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One year ago, Lindsey deposited $250 into a savings account. Her balance is now $253. Two years ago, Jenn deposited $250 into a savings account. Her balance is now $257.50. Which account has the greater simple interest rate? Explain

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Answer:

Jenn's account has a greater simple interest rate.

Lindsey's interest in 1 year was $3

Jenn's interest in 2 years was $7.50 if you divide $7.50 by 2 the answer would be 3.75 therefore Jenn's account has the greater simple interest rate.

IDEC4

Answer:

Jenn's account has a greater simple interest rate.

Lindsey's interest in 1 year was $3

Jenn's interest in 2 years was $7.50 if you divide $7.50 by 2 the answer would be 3.75 therefore Jenn's account has the greater simple interest rate.

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