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ivolga24 [154]
2 years ago
11

I need help figuring out the answers for this

Mathematics
1 answer:
Gennadij [26K]2 years ago
6 0
<h2>Step-by-step explanation:</h2>

Interest, is an additional money paid for borrowing money. it could be simple or compound interest.

simple interest= p×T×R/100

when interest is compounded annually

F= p(1+r)^t

F= future value

p= principal

r= rate

t= time

compound interest is calculated based on the initial and accumulated interest.

<h2>interest Linda earns</h2><h3>fist year</h3>

F= p(n+r)^n

F= 10000(1+0.02)^1

F= 10000×1.02= $10200

interest= 10200-10000

interest = $200

second year

F = 10200(1+0.02)^1

F=10200×1.02= $10404

Interest= 10404-10200

interest= $204

third year

F= 10404(1+0.02)^1

F= 10404(1.02)

F = $10612.08

interest= 10612.08-10404

interest= $208.08

<h2>Bob's interest</h2><h2>I= p×t×R/100</h2>

first year

I=10000×1×0.02/100

interest= $2

second year

I= 10000×2×0.02/100

interest= $4

for the third year

I =10000×3 × 0.02/100

interest= $6

<h2>check answer above for final computation</h2>

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