Rick deposits $1,000 into an investment account which earns 4% annually. Sally loans $1,000 to a friend, and the friend agrees t
o pay her $50 each year, and will return the $1,000 after 10 years. Determine the amount of money each person has after 10 years.
A. Rick: $1,040; Sally: $1,500 B. Rick: $1,453.16; Sally: $1,500 C. Rick: $1,534.32; Sally: $2,000 D. Rick: $1,480.24; Sally: $1,500 I know Sally earns $1,500... but what about Rick? Please help?