Answer and Step-by-step explanation:
The computation is shown below;
As we know that
The simple interest is
Simple interest = Principal × rate × time
For Account A, the principal would be
2 = Principal × 3.2% × 3
So, the principal is $20.83
For account B, the principal would be
38.50 = Principal × 2.2% × 30
So, the principal is $58.33
Now the interest for both the accounts are as follows
For account 1
= $20.83 × 3.2%
= $0.67
And, for the account 2
= $58.33 × 2.2%
= $1.28
As it can be seen that the account 2 has the highest interest
The same is to be considered
