Question

How much more interest if deposited $200 than if you deposited $150? 3% interest rate

Answer 1

principal 1 = $200

pricipal 2 = $ 150

r = 3%

I = ?

T = 1 (we assume the time is 1)

`\begin{gathered} I\text{ = }(PRT)/(100)\text{ } \\ I\text{ = }\frac{200\text{ }*\text{ 3}*\text{ 1}}{100} \\ I\text{ = }(300)/(100) \\ I\text{ = \$}6 \\ \\ When\text{ p = \$150} \\ I\text{ =}(PRT)/(100) \\ I\text{ = }(150*3*1)/(100) \\ \\ I\text{ =\$4.5} \\ \end{gathered}`

The Difference is $6 - $4.5 = $1.5