Two brothers, Kevin and Greg, each inherit S43000. Kevin invests his inheritance in a savings account with an annual return of 1

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3 years ago

8

Two brothers, Kevin and Greg, each inherit S43000. Kevin invests his inheritance in a savings account with an annual return of 1

.7%. while Greg invests his inheritance
in a CD paying 5.3% annually. How much more money than Kevin does Greg have after 1 year?
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1 answer:

creativ13 [48] · Answer 1 · 2022-06-02T14:15:09+03:00

creativ13 [48]3 years ago

4 0

Answer:

S1548.

Step-by-step explanation:

1-7% =- 0.017 and 5.3% - 0.053.

Kevin : After 1 year he has 43,000 * 0.017 = S731.

Greg: After 1 year he has 43,000 * 0.053 = S2279

Difference = 2279 - 731 = S1548.