We have the next formula for simple interest
[tex]A=P(1+rt)[/tex]where
A= amount
P= the principal
r=rate
t=time
for Sandra
A=2575
P=2500
t=1
[tex]2575=2500(1+r)[/tex]we need to calculate the rate so we need to clear r
[tex]r=\frac{2575-2500}{2500}=\frac{75}{2500}=0.03[/tex]the rate is 3%
for Ron
[tex]\begin{gathered} A=8000(1+0.03)=8240 \\ \end{gathered}[/tex]Ron earn $240
