An example of simple interest is a certificate of deposit, or CD as they're more commonly known. This is an investment where you agree to leave your deposit untouched for a fixed amount of time, and in exchange you are guaranteed a certain percentage interest. Below are some CD rates listed in a recent month on banking website for CDs with a 2-year term. Use the percentage listed in the APY column as the interest rate. 2yr CD Bank/Institution APY Term Min Deposit Live Oak Bank 2.85% 2 yr $2900 As of: Fri Feb 15 Synchrony Bank 2.80% 2 yr $2000 As of: Fri Feb 15 ***** Selle Mae 2.75% 2 ST $2900 As of Fri Feb 15 For a $2900 investment, how much more interest would you earn if you chose Live Oak Bank over Sallie Mae? You would