well, simple interest, earns the same amount every year, as opposed to compund interest.... so let's see how much Therese gets in say 1year then
[tex]\bf \qquad \textit{Simple Interest Earned}\\\\
I = Prt\qquad
\begin{cases}
I=\textit{interest earned}\\
P=\textit{original amount deposited}\to& \$200\\
r=rate\to 3\%\to \frac{3}{100}\to &0.03\\
t=years\to &1
\end{cases}[/tex]
