Three years ago, you earned $2000 working as a lifeguard. You.depositsed the money in a bank that paidsimple interest of…

Three years ago, you earned $2000 working as a lifeguard. You.depositsed the money in a bank that paidsimple interest of 4.75%. One of the other lifeguards with whom you work deposited the $2000 she earned in a different bank. Her bank only paid 4.70%, but it compounded the interest annually. How lessmuch money was in your account after the end of the first year? How much was in your friends account? How much did each of you have in the bank after the end of the second year? Why did your friend earn

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