QuestionNicole and Chris each deposit \$20,000 at 2\% interest. Find their earnings for 3 years and compare.

Studdy Solution
In the third year, Nicole again earns more interest than Chris.
$$Interest_{Nicole, Year3} = \$416.16 > Interest_{Chris, Year3} = \$400$$So, Nicole earns more interest in the second and third years, while they earn the same amount in the first year.