Question

Darryl deposits $1,500 into a savings account that has a simple interest rate of 2.7%.

Lori deposits $1,400 into a savings account that has a simple interest rate of 3.8%.
If no other transactions are made, who will have more money in their account after 10 years? How much more?

A. After 10 years, Lori will have $27 less than Darryl.

B. After 10 years, Lori will have 1.1% more than Darryl.

C. After 10 years, Darryl will have $16.50 more than Lori.

D. After 10 years, Lori will have $27 more than Darryl.

Answer 1

Answer: Lori gets more more in her saving account than Darry has.

Lori has $27 more than Darryl

Step-by-step explanation: Darry does :

Amount of deposits into a saving account = $1500

Rate of interest = 2.7%

Number of years = 10

As we know the formula for "Simple Interest ",i.e.

So, we put the values in this formula to get our answer :

As we know how to calculate the "Amount" i.e.

Similarly,

Lori does:

Amount of deposits into a saving account = $1400

Rate of interest = 3.8%

Number of years = 10

As we know the formula for "Simple Interest ",i.e.

So, we put the values in this formula to get our answer :

As we know how to calculate the "Amount" i.e.

Hence, Lori gets more more in her saving account than Darry has.

Lori has $27 more than Darryl .

Answer 2

Answer:she will have $27 more

Explanation: