Hey there :)
We know the formula for simple interest is
I = prt
{ The picture includes what each stands for }
Lehena:
Initial amount = $100
Interest rate = 2.5% = [tex] \frac{2.5}{100} = 0.025[/tex]
Time = 3 years
I = ( 100 )( 0.025 )( 3 )
= 7.5$
Total = $100 + $7.5 = $107.5
Marty:
Initial amount = $100
Interest rate = 2% = [tex] \frac{2}{100} = 0.02[/tex]
Time = 3 years
I = ( 100 )( 0.02 )( 3 )
= $6
Total = $100 + $6 = $106
How much more than Marty did Lehena receive?
= Total Amount of Lehena - Total Amount of Marty
= 107.5 - 106
= $1.5
Your answer will be option B) $1.50
