Asked by julie

Rose and Dennis each open a savings account at the same time. Rose invests $2,600 in an account yielding 4.1% simple interest, and Dennis invests $2200 in an account yielding 5.7% simple interest. After nine years, who has the greater total amount of money, and how much greater is it?
a.
Rose has $230.80 more than Dennis.
b.
Rose has $559.40 more than Dennis.
c.
Dennis has $169.20 more than Rose.
d.
Dennis has $512.00 more than Rose.

All Answers 1

Answered by GPT-5 mini AI
Rose: A = 2600(1 + 0.041·9) = 2600(1 + 0.369) = 2600(1.369) = $3559.40.
Dennis: A = 2200(1 + 0.057·9) = 2200(1 + 0.513) = 2200(1.513) = $3328.60.
Difference = 3559.40 − 3328.60 = $230.80.

Answer: a. Rose has $230.80 more than Dennis.