Bernadette and Julio both opened bank accounts with a deposit of $450.
Bernadette gets 4.5% simple interest per year. Julio gets 3.25% simple interest per year. Neither of them make any additional deposits or withdrawals.
After 10 years how much more interest did Bernadette receive

After 10 years Bernadette receive will $56.25 of more interested amount in compare with Julio interested amount.

Step-by-step explanation:

The given is,

              Bernadette and Julio deposit of $450

              Bernadette gets 4.5% simple interest per year

              Julio gets 3.25% simple interest per year

Step:1

              Formula for calculate the future amount with simple interest,

                              .......................................(1)

             Where, F - Future amount

                          P - Initial deposit

                           i - Rate of interest

                          N - No. of years

             For Bernadette,

                  P = $450

                  i = 4.5%

                 N = 10 years

             Equation (1) becomes,

                         F  = $652.5

             Interested amount = F - P

                                             = ( 652.5 - 450 )

                                             = $202.5

            For Julio,

                  P = $450

                   i = 3.25%

                 N = 10 years

             Equation (1) becomes,

                         F  = $596.25

             Interested amount = F - P

                                             = ( 596.25 - 450 )

                                             = $146.25

Step:2

          Difference of interested amount for Bernadette and Julio,

                                            = 202.5 - 146.25

                                            = $56.25

Result:

        After 10 years Bernadette receive $56.25 of more interest in compare with Julio interest.

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step-by-step explanation: