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.<br />### The principal is $500, the rate is 2% (0.02 as a decimal), and the time is 2 years. Using the formula $i = prt$, we have $i = 500 \times 0.02 \times 2 = 20$.<br /><br />## Step 2: Calculate the interest earned on $3500.<br />### The principal is $3500, the rate is 2% (0.02 as a decimal), and the time is 2 years. Using the formula $i = prt$, we have $i = 3500 \times 0.02 \times 2 = 140$.<br /><br />## Step 3: Calculate the difference in interest earned.<br />### The difference in interest earned is $140 - 20 = 120$.<br /><br />## Step 4: Convert 18 months to years.<br />### There are 12 months in a year, so 18 months is equal to $\frac{18}{12} = 1.5$ years.<br /><br />## Step 5: Calculate the interest earned on $5480 after 1.5 years.<br />### The principal is $5480, the rate is 3.6% (0.036 as a decimal), and the time is 1.5 years. Using the formula $i = prt$, we have $i = 5480 \times 0.036 \times 1.5 = 295.92$.