## Jackson deposits $3,800 into a savings account that has a simple interest rate of 2.7%. Luisa deposits$2,700 into a savings account that ha

Question

Jackson deposits $3,800 into a savings account that has a simple interest rate of 2.7%. Luisa deposits$2,700 into a savings account that has a simple interest rate of 3.8%. Who will have more money in their account after 8 years, if no other transactions are made? How much more?

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2 months 2021-07-23T17:31:19+00:00 1 Answers 1 views 0

Jackson should have more by \$1100.

Step-by-step explanation:

here is how

use formula A=Principle(1+rt)

A=3800(1+2.7(8))

A=85880

A=2700(1+3.8(8))

A=84780

then do

85880-84780=1100

so the answer is Jackson by 1100.