20 Johnny deposits $500 in an account that earns 4% simple interest per year. Rishi
deposits $475 in an account that earns
6% interest compounded annually. The
deposits are made on the same day, and
no additional money is deposited or
withdrawn from the accounts. Which
statement about the balances of Johnny's
account and Rishi's account at the end of
3 years is true? (8.1A, 8.10, 8.10, 8.16)
A Johnny's account will have about
$25.50 more than Rishi's account.
B Johnny's account will have about $60
more than Rishi's account.
C Rishi’s account will have about $90.73 more than Johnny’s account.
D Rishi’s account will have about $5.73 more than Johnny’s account.