Libby and her friend Joe both opened a savings account. Libby made a $500 deposit into her bank account that earns 2.3% simple interest. Joe made a $500 deposit into his bank account, which earns 2.5% compound interest. How much more money will Joe have in his account than Libby after 5 years?A:557.50B:565.70C:8.20D:57.50

4400

step-by-step explanation:

none.

step-by-step explanation:

m

1

=

5

m1=5

b

=

−

1

b=-1

find the slope and y-intercept of the second equation.

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m

2

=

0

m2=0

b

=

−

6

b=-6

compare the slopes

m

m of the two equations.

m

1

=

5

,

m

2

=

0

m1=5,m2=0

compare the two slopes in the decimal form. if the slopes are equal, then the lines are parallel. if the slopes are not equal, then the lines are not parallel.

m

1

=

5

,

m

2

=

0

m1=5,m2=0