QuestionDebra and Dan each deposit \$30,000 at 4\% interest. Calculate their yearly interest for 3 years and compare.

Studdy Solution
Now, let's compare the interest earned by Debra and Dan for each year.
For the first year, Debra and Dan both earn \$1,200.
For the second year, Debra earns \$1,248 and Dan earns \$1,200. So, Debra earns more interest in the second year.
For the third year, Debra earns \$1,298.56 and Dan earns \$1,200. So, Debra earns more interest in the third year.