Answer: Jenns account has the greater simple interest rate
Step-by-step explanation: The formula for simple interest is:
Where A is the final amount after investment, P is the initial amount, r is the rate of interest and t is the time periods.
For Lindsey:
Solve for r
Lindsey simple interest was 1.2% annually
For Jenn:
Jenn simple interest was 1.5% annually
Therefore Jenns account has the highest simple interest rate.
