Division bracket with 12 on the left, 5496 inside, and 458 above it. Underneath the 5496, there is a minus 4800. Then there is a
solid line with 696 under the line. There is a minus sign, and an empty box followed by a solid line. Beneath the line, there is a 96 minus 96 underneath. There is a solid line and a 0 to end the problem.
1 answer:
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Formula for compound interest is
Interest = Amount - Principal
Interest = - P
Where r = rate in percent
t = time in years
For Jaina,
P = $300
r= 7%
t = 3 yrs
So, Interest = - 300
For Tomas
P = $400
r= 4%
t = 3 yrs
So, Interest = - 400
So pair of equations for Jaina and Tomas are
Interest = - 300
Interest = - 400