1 Answer

Ezee · Answer 1 · 2023-12-16T14:43:23+0000

Explanation:

Donna

The simple interest formula is given below:

$Simple\;Interest=(Principal* Rate* Time)/(100)$

Principal = $80,000, Rate = 3%

$Interest=(80000*3*1)/(100)=\$2400$

The interest Donna earns for the first, second, and third years are each $2400.

Tony

1st Year

Principal = $80000, Interest Rate=3%

$Interest=(80000*3*1)/(100)=\$2400$

2nd Year

Principal = 80000+2400=$82,400, Interest Rate = 3%

The interest for the second year will be:

$Interest=(82,400*3*1)/(100)=\operatorname{\$}2,472$

3rd Year

Principal = 82,400+2472=$84,872

The interest for the third year will be:

$Interest=(84872*3*1)/(100)=\operatorname{\$}2546.16$

Answer:

The completed table is attached below:

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