Question

One year ago, Lindsey deposited $250 into a savings account. Her balance is now $253. Two years ago, Jenn deposited $250 into a savings account. Her balance is now $257.50. Which account has the greater simple interest rate?

Answer 1

Answer:

l don't know ...........

Answer 2

Answer:

Lindsay’s interest is $3 for one year. Using the formula for interest, I = prt, Lindsey’s money is earning at a rate of 1.2%. Jenn has earned $3.75 for one year. Her money is earning at a rate of 1.5%, which is a higher interest rate.

Step-by-step explanation: