Monica deposits $300 into a savings account that pays a simple interest rate of %4.5. Paul deposits $400 into a savings accou

Question

2 years ago

8

Monica deposits $300 into a savings account that pays a simple interest rate of %4.5. Paul deposits $400 into a savings accou

nt that pays a simple interest rate of %4.1. Monica says that she will earn more interest in 1 year because her interest rate is higher. Is she correct? Justify your response.

Mathematics

2 answers:

OleMash [197] · Answer 1 · 2022-06-09T04:43:23+03:00

OleMash [197]2 years ago

5 0

Answer:

no

Step-by-step explanation:

because pa puts in more money making his rate higher

lys-0071 [83] · Answer 2 · 2022-06-09T06:11:01+03:00

lys-0071 [83]2 years ago

4 0

Answer:

Monica is incorrect

Step-by-step explanation:

Monica is incorrect because Paul deposited more money into his savings account and his interest is lower which means he makes more money in interest .

Monica deposits ​$300 into a savings account that pays a simple interest rate of ​%4.5. Paul deposits ​$400 into a savings accou

Monica deposits $300 into a savings account that pays a simple interest rate of %4.5. Paul deposits $400 into a savings accou