Christi can earn more interest if she invests $7,500 in Simple interest, 4%, 3.25 years, therefore, the correct option is c.
What is simple interest?
Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. It is calculated with the help of the formula,
[tex]SI = \dfrac{P \times R \times T}{100}[/tex]
where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time period.
The simple Interest she is currently getting,
[tex]SI = \dfrac{P \times R \times T}{100} = \dfrac{\$7,500 \times 4 \times 3}{100} =\$900[/tex]
A.)
[tex]SI = \dfrac{P \times R \times T}{100} = \dfrac{\$7,500 \times 4.2 \times 3}{100} =\$945[/tex]
B.)
[tex]SI = \dfrac{P \times R \times T}{100} = \dfrac{\$7,500 \times 4.1 \times 3}{100} =\$922.5[/tex]
C.)
[tex]SI = \dfrac{P \times R \times T}{100} = \dfrac{\$7,500 \times 4 \times 3.25}{100} =\$975[/tex]
D.)
[tex]CI = P(1+\dfrac{R}{100})^t -P = \$7,500(1+0.04)^{2.75}-\$7500 = \$854.16[/tex]
Hence, Christi can earn more interest if she invests $7,500 in Simple interest, 4%, 3.25 years, therefore, the correct option is c.
Learn more about Simple Interest:
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