Leela invests $500 at 4.5% interest according to the equation VI=500(1.045)t, where Vl is the value of the account after t years . Adele invests the same amount of money at the same interest rate, but begins investing two years earlier according to the equation Va=500(1.045)t+2. The total value of Adele’s account is approximately what percent of the total value of Leela’s account at any time, t?
2 answers:
Answer:
109.20% ( approx )
Step-by-step explanation:
Given,
Leela's total investment after t years,
Also, Adele's investment after t years,
Hence, the percentage of total value of Adele’s account to the total value of Leela’s account at any time, t
Percentage of Total value of Adele’s account of the total value of Leela’s account = [Va / Vl]*100 Vl = 500 * (1.045)t Va = 500 * (1.045) (t+2) [this is an amendment of your equation] [Va/ Vl]*100 = [500 * (1.045)(t+2)] / [500 * (1.045)t]*100= [t+2]*100 / t [Va/ Vl]*100= [100t + 200] / t = 100 + 200 /t The first year, t = 1: 100 + 200/1 = 300 % After two years, t = 2: 100 + 200/2 = 200% After three years, t = 3: 100 + 200/3 = 167 %
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