Jim and bill each invest $15,000 into savings accounts that earn 3.5% interest. Jims account earns simple interests and bills account earns compound interest. After 25 years, who will earn more interest and how much more will he earn.

Bill will earn more interest

He will earn $ 20,448.67 from his investment

Step-by-step explanation:

Firstly let us calculate Jim's earnings based on simple interest

A = P(1 + rt)

Calculation:

First, converting R percent to r

a decimal

r = R/100 = 3.5%/100 = 0.035 per year.

Solving our equation:

A = 15000(1 + (0.035 × 25)) = 28125

A = $28,125.00

The total amount accrued, principal plus interest, from simple interest on a principal of $15,000.00 at a rate of 3.5% per year for 25 years is $28,125.00 for Jim

Now let's us calculate bill's investment based on compound interest

Equation

A = P(1 + r)^t

A=15000(1+0.035)^25

A=15000(1.035)^25

A=15000*2.36324498427

A = $ 35,448.67

We see that Bill will earn

$ 20,448.67 from his investment

is means division by fractions

step-by-step explanation:

they will manufacture 8496 cars