Oouuhitdadougie Oouuhitdadougie

13-01-2023
Mathematics

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Monica deposits $100 into a savings account that pays a simple interest rate of 3.7%. Paul deposits $200 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.

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