WimberlyT751965 WimberlyT751965
  • 26-10-2022
  • Mathematics
contestada

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

Respuesta :

NormanC586120 NormanC586120
  • 26-10-2022

principal 1 = $200

pricipal 2 = $ 150

r = 3%

I = ?

T = 1 (we assume the time is 1)

[tex]\begin{gathered} I\text{ = }\frac{PRT}{100}\text{ } \\ I\text{ = }\frac{200\text{ }\times\text{ 3}\times\text{ 1}}{100} \\ I\text{ = }\frac{300}{100} \\ I\text{ = \$}6 \\ \\ When\text{ p = \$150} \\ I\text{ =}\frac{PRT}{100} \\ I\text{ = }\frac{150\times3\times1}{100} \\ \\ I\text{ =\$4.5} \\ \end{gathered}[/tex]

The Difference is $6 - $4.5 = $1.5

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