Two customers took out loans from a bank.

Question

Henry took out a 4-year loan for $5,000 and paid 4.2% annual simple interest.
Ingred took out 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?

(pick an answer)
$330

$150

$417

$60

Answer 1

$150