linda Put $610 in a savings account that pays 1.2% interest each year. Enrique puts $590 in a high-yield account that pays 3.9% interest each year.

Respuesta :

Enrique would make more interest than Linda in a year.

What is interest?

Interest is the amount of money made from investing a particular amount over a period of time. It is given by:

I = PRT

Where P is principal, I is interest, R is rate and T is period.

For Linda in a year:

I =610 * 1.2% * 1 year = 610 * 0.012 * 1 = $7.32

For Enrique in a year:

I =590 * 3.9% * 1 year = 610 * 0.012 * 1 = $23.01

Enrique would make more interest than Linda in a year.

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