Question

Henry to out a 4-year loan for $5,000 paid 4.2% annual simple interest.Ingrid took a 6-year loan for 5,000 and paid 3.9 annual simple interest.What is the difference between the amounts of interest Henry and Ingrid paid for their loans

Answer 1

Harry: 5000 * .042 * 5
Ingrid: 5000 * .039 * 5
difference: 5000 * .003 * 5 = ____

Answer 2

330