Question

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

Answer 1

no

Explanation:

because pa puts in more money making his rate higher

Answer 2

Monica is incorrect

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 .