Question

Linda and Mary each opened a saving account with a deposit of $200. Linda earned 2.5% simple interest per year. Mary earned 2% simple interest per year. Neither of them made any additional deposits orwithdrawals. How much more did Linda receive in interest than Mary after three years?

Answer 1

we get that in interest Linda get

`200\cdot3\cdot0.025=15`

and Mary get:

`200\cdot3\cdot0.02=12`

So Linda get $3 more than Mary