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1. The amount of money in the account after 10 years is 42,317.96 dollars.
2. it will take Pamela and Kevin 7.5 hours to complete the task together
<h3>How to find compound interest?</h3>Question(1)
Using compound interest formula,
where
- p = principal
- r = rate
- n = number of times
- t = time
Therefore,
p = 30,000
r = 3.5% = 0.035
t = 10
n = 1
Therefore,
A = $42,317.96
Question 2:
Pamela takes 12 hours to complete a task.
Kelvin takes 20 hours to complete same task.
The time it will take both of them can be computed as follows:
using rate principle,
let
x = time it will take both of them to do the work together.
cross multiply
240 = 32x
x = 240 / 32
x = 7.5 hours
Therefore, it will take Pamela and Kevin 7.5 hours to complete the task together
learn more on compound interest and rate here: brainly.com/question/18104604
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