Answer:
The correct option is;
A. $76.50
Step-by-step explanation:
To solve the question, we note the formula for simple interest = Principal × Rate × Time/100
That is
[tex]S.I. = \frac{Principal \times Rate \times Time}{100} = \frac{P \times R \times T}{100}[/tex]
Where:
P = Principal Amount = $500.00
R = Interest Rate = 3.4%
T = Time period = 3 Years
Therefore,
[tex]S.I. = \frac{500 \times 3.4 \times 3}{100} = \$51[/tex]
For the second account, we have
P = Principal Amount = $500.00
R = Interest Rate = 3.4/2% = 1.7 %
T = Time period = 3 Years
Therefore,
[tex]S.I. = \frac{500 \times 1.7 \times 3}{100} = \$25.5[/tex]
Therefore, the total interest she have earned in three years is $51 + $25.5 = $76.5
