Donnie will deposit $1,500 in an account that earns 4% simple interest annually.
His brother Ronnie will deposit $1,600 in an account that earns 6% interest compounded annually.
The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts. Which statement about the balances of Donnie’s and Ronnie’s account at the end of 3 years is true?
A. Donnie’s account will have about $21.52 more than Ronnie’s account.
B. Donnie’s account will have about $125.63 more than Ronnie’s account.
C. Ronnie’s account will have about $21.52 more than Donnie’s account.
D. Ronnie’s account will have about $125.63 more than Donnie’s account.
