Liam invests $3,670 in a savings account at his local bank which gives 1.9% simple annual interest. He also invests $2,040 in an online savings account which gives 5.5% simple annual interest. After five years, which one will have earned more interest, and how much more interest will it have earned, to the nearest dollar?

Step-by-step explanation:

Given:

Find amount of interest in both investments:

As we see the online savings account earns more interest and the difference is:

$3,670 in a savings account at his local bank which gives 1.9% simple annual interest. He also invests $2,040 in an online savings account which gives 5.5% simple annual interest. After five years, which one will have earned more interest, and how much more interest will it have earned, to the nearest dollar?