Rachel deposits $ 5 0 , 0 0 0 into an account that pays simple interest at a rate of 6 per year Michael deposits $ 5 0 , 0 0 0 into an account that also pays 6 interest per year But it is composinfed annually Find the interest Rachel and Michael earn during each of the first three years Then decide who earns more interest for each year Assume there are no withdrawals and no additional deposits table Year , Interest Rachel earns ( Simple interest ) , Interest Michael earns ( Interest compounded annualy ) , Who earns more interest , First , $ , $ , table Rachel earns more , Michael earns more , They earn the same amount , Second , $ , 5 , table Rachel earns more , Michael earns more , They earn the same amount , Third , , table

Question

Rachel deposits $ 5 0 , 0 0 0 into an account that pays simple interest at a rate of 6   per year  Michael deposits $ 5 0 , 0 0 0 into an account that also pays 6   interest per year  But it is composinfed annually   Find the interest Rachel and Michael earn during each of the first three years  Then decide who earns more interest for each year  Assume there are no withdrawals and no additional deposits     table     Year , Interest Rachel earns ( Simple interest ) , Interest Michael earns ( Interest compounded annualy ) , Who earns more interest    ,   First , $ , $ ,    table     Rachel earns more    ,   Michael earns more    ,   They earn the same amount        ,   Second , $ , 5 ,    table     Rachel earns more    ,   Michael earns more    ,   They earn the same amount        ,   Third , ,    table

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Rachel deposits $ 5 0 , 0 0 0 into an account that pays simple interest at a rate of 6 % per year. Michael

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