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13 November, 10:35

Ellen deposited $2,500 into a savings account

that earns 5% interest per year. Her friend's

bank offers a 65 % annual interest rate. How

much more money would Ellen's money have

earned in one year if she had deposited her

money at her friend's bank?

+3
Answers (1)
  1. 13 November, 13:35
    0
    Step-by-step explanation:

    amount of interest Ellen would earn while on a 5 % interest

    5/100 (2500) + 2500=2625

    amount of interest Ellen would earn while on a 65 % interest

    65/100 (2500) + 2500=4125

    the difference

    4125-2625=$ 1500
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Home » Mathematics » Ellen deposited $2,500 into a savings account that earns 5% interest per year. Her friend's bank offers a 65 % annual interest rate. How much more money would Ellen's money have earned in one year if she had deposited her money at her friend's bank?
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