Complete. 500 and 3500 are deposited into two savings accounts for 2 years. Both accounts have on annual interest rate of 2% What is the difference in interest earned? Interest on 500 P= ?,R=?% ,T=? 1= ?times ?% times ? = ?times ?times ? = ? Interest on 3500 ?- ?= ? The difference in interest earned is (4) 5480 is invested at a simple interest rate of 3.6% per year. How much interest is earned after 18 months? 18months=?years P= ?,R=?% ,T=? 1= ?times ?% times ? = ?times ?times ? = ? Convert the annual rate from a percent to a decimal. The interest earned after 18 months is ?

## Step 1: Calculate the interest earned on 500, the rate is 2% (0.02 as a decimal), and the time is 2 years. Using the formula , we have .## Step 2: Calculate the interest earned on 3500, the rate is 2% (0.02 as a decimal), and the time is 2 years. Using the formula , we have .## Step 3: Calculate the difference in interest earned.### The difference in interest earned is .## Step 4: Convert 18 months to years.### There are 12 months in a year, so 18 months is equal to years.## Step 5: Calculate the interest earned on 5480, the rate is 3.6% (0.036 as a decimal), and the time is 1.5 years. Using the formula , we have .