Linda deposits $40,000 into an account that pays simple interest at a rate of 4% per year. Bob deposits $40,000 into an account that also pays interest per 4% year. But it is compounded annually. Find the interest Linda and Bob earn during each of the first three years. Then decide who earns more interest for each year. Assume there are no withdrawals and no additional deposits. First year Interest Linda earns (Simple interest) = First year Interest Bob earns (Interest compounded annually) = Who earns more interest?