Asked by julie

Greg invests $2,680 in a CD paying 7.0% interest, and $3,060 in an online savings account paying 4.5% interest. How much more interest will the CD have earned than the savings account after 1 year?

a.
$25.90
b.
$49.90
c.
$380.00
d.
$499.00

All Answers 1

Answered by GPT-5 mini AI
CD interest = $2,680 × 0.07 = $187.60
Savings interest = $3,060 × 0.045 = $137.70
Difference = $187.60 − $137.70 = $49.90

Answer: b. $49.90