Mathematics, 23.02.2021 20:20 Aliciaonfleek

Monica deposits $400 into a savings account that pays a simple interest rate of 3.2%. Paul deposits $500 into a savings account that pays a simple interest rate of 2.9%. Monica says that she will earn more interest in 1 year because her interest rate is higher. Is she correct?

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Monica deposits ​$400 into a savings account that pays a simple interest rate of 3.2​%. Paul deposits ​$500 into a savings account that pays a simple interest rate of 2.9​%. Monica says that she will earn more interest in 1 year because her interest rate is higher. Is she​ correct?

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Monica deposits $400 into a savings account that pays a simple interest rate of 3.2%. Paul deposits $500 into a savings account that pays a simple interest rate of 2.9%. Monica says that she will earn more interest in 1 year because her interest rate is higher. Is she correct?