Example: Matthew invested $100 in a savings account earning 3% simple interest each year. Two years later, Jacob started a savings account with $100 at the same rate. Let t represent the number of years since Matthew invested his money. How does Jacob's savings compare to Matthew's savings at any time t? Jacob's savings: t t 100 1.03 100 1.03 t 1.03 2 100 1.03 2 i i = i i Matthew's savings: ____ 1.03t