Leela invests $500 at 4.5% interest according to the equation mc018-1.jpg, where Vl is the value of the account after t years. A
dele invests the same amount of money at the same interest rate, but begins investing two years earlier according to the equation mc018-2.jpg. The total value of Adele’s account is approximately what percent of the total value of Leela’s account at any time, t?
Adele invests 500 at 4.5% but 2 years before Leela invested
Vi = 500 x 1.045^2+t
<span>The total value of Adele’s account is approximately what percent of the total value of Leela’s account at any time, t? </span> [500 x 1.045^2+t / 500 x 1.045^t] * 100%
1.045² x 100% = 1.092 x 100% = 109.2%
To check: t =1 Adele: 500 x 1.045^2+1 = 500 x 1.045³ = 570.58 Leela: 500 x 1.045^1 = 500 x 1.045 = 522.50
