11 Karen deposits 60 000 into an account that pays simple

Last updated: 6/12/2023

11 Karen deposits 60 000 into an account that pays simple interest at a rate of 3 per year David deposits 60 000 into an account that also pays 3 interest per year But it is compounded annually Find the interest Karen and David 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 Year First 13 Second Third Interest Karen earns Simple interest 0 0 s Interest David earns Interest compounded annually S 1 Who earns more interest O Karen earns more O David earns more O They earn the same amount O Karen earns more David earns more O They earn the same amount O Karen earns more David earns more O They earn the same amount