Question

If you place $2,000.00 in a savings account with an interest rate of 4.5%/month versus an account with a rate of 3.75%/month, how much more interest could you earn in that month using the first account?
(1 point)
Responses

$2.50 more
$2.50 more

$25.00 more
$25.00 more

$15.00 more
$15.00 more

$150.00 more

Answer 1

Interest at 4.5%: 2000 × 0.045 = $90.00
Interest at 3.75%: 2000 × 0.0375 = $75.00
Difference: $90.00 − $75.00 = $15.00

Answer: $15.00 more.