Monica deposits $200 into a savings account that pays a simple interest rate of 3.3%. Paul deposits $300 into a savings account that pays a simple interest rate of 2.4%. Monica says that she will earn more interest in 1 year because her interest rate is higher. Is she correct? Justify your response.

She is not because Paul deposited more money than her, which was enough so that he would earn more interest.

Step-by-step explanation:

Monica

i = prt

i = 200 * 0.033 * 12

(12 is represented as months)

Multiply.

i = 79.2

Paul

i = prt

i = 300 *  0.024 * 12

(you can choose months or years, but they have to be the same)

Multiply.

i = 86.4

Answer

Monica is wrong because Paul deposited more money than her, which was enough so that he would earn more interest.

the expected value of the random variable : 0, 1 and 2

step-by-step explanation: