Question

3. A savings account has a 3% interest rate. (a) Complete the ratio table shown. Show your work. Deposit ($) 100 50 300 Interest ($) 3 12 (b) How much more interest would you have if you deposited $200 than if you deposited $150? Show your work.

Please guys just give me a straight answer im going to wast all of my 100 points please guys just give me an easy answer.

Answer 1

51.5 i think

Explanation:

Answer 2

We all know, savings account have "Compound Interest"

So, Here, On $100 deposit, amount of Interest = $12

So, for $50, it would be: $6

Then, for $300, it is: $36

b) If you deposit $200, then balance after 1 year,
A = P(1 + r)^t

A = 200(1 + 0.03)^1

A = 200(1.03)
A = $206

Now, Balance with $150
A = 150 (1 + 0.03)^1
A = 150(1.03)
A = 154.5

Difference = 206 - 154.5 = $51.5

In short, Your Answer would be: $51.5

Hope this helps!