Question

HELP PLS IM DUM

Monica deposits ​$
100 into a savings account that pays a simple interest rate of
3.2​%. Paul deposits ​$
200 into a savings account that pays a simple interest rate of
1.9​%. Monica says that she will earn more interest in 1 year because her interest rate is higher. Is she​ correct? Justify your response.

Answer 1

ur not dum

Answer:

Paul

Explanation:

Paul earn more than monica. Though he is getting less interest but because of his higher initial amount he is getting more return.

Computing the return of both

Monica return is 100*3.4%= $3.4 in a year

Paul return is 200*%2.2= $4.4 in a year.