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Raina deposits 60 000 into an account that pays simple interest at a rate of...

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Algebra

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Raina deposits 60 000 into an account that pays simple interest at a rate of 3 per year Hong deposits 60 000 into an account that also pays 3 interest per year But it is compounded annuall Complete the table below by giving the interest each person will earn for each year a Interest earned during the first year b Interest earned during the second year c Interest earned during the third year Raina s account Simple interest SO 0 0 Hong s account Interest compounded annually 0 0

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