Question

Ellen deposited $2,500 into a savings account

that earns 5% interest per year. Her friend's
bank offers a 65 % annual interest rate. How
much more money would Ellen's money have
earned in one year if she had deposited her
money at her friend's bank?​

Answer 1

Explanation:

amount of interest Ellen would earn while on a 5 % interest

5/100(2500)+2500=2625

amount of interest Ellen would earn while on a 65 % interest

65/100(2500) +2500=4125

the difference

4125-2625=$ 1500