Answer:
The sum of the money shared is $1372
Step-by-step explanation:
The given ratio is
Albert:Michael:Moses=3:5:6
The total ratio is 3+5+6=14
Let the sum of money shared be $x.
Then Albert's share = 3/14 x = 3
/ 14
Michal's Share = 5x/14
If Michael received $196 more than Albert, then the difference between their share is the $196.
Answer:
$268.78
Step-by-step explanation:
We will use the compound interest formula to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
First, change 3% into its decimal form:
3% -> -> 0.03
Now, plug in the values:
After 10 years, you will have $268.78