Answer:
$ 1813
Step-by-step explanation:
Given,
Investment of Kevin,
= $ 49000,
Rate of interest = 1.9 % annually,
Thus, his interest,
= 1.9% of 49000
![=\frac{1.9\times 49000}{100}](https://tex.z-dn.net/?f=%3D%5Cfrac%7B1.9%5Ctimes%2049000%7D%7B100%7D)
![=\frac{93100}{100}](https://tex.z-dn.net/?f=%3D%5Cfrac%7B93100%7D%7B100%7D)
![=\$ 931](https://tex.z-dn.net/?f=%3D%5C%24%20931)
Hence, Kelvin's amount after 1 year,
![A_1=P_1+I_1=49000+931=\$ 49931](https://tex.z-dn.net/?f=A_1%3DP_1%2BI_1%3D49000%2B931%3D%5C%24%2049931)
Now, Investment of Charles,
= $ 49000,
Rate of interest = 5.6 % annually,
Thus, his interest,
= 5.6% of 49000
![=\frac{5.6\times 49000 }{100}](https://tex.z-dn.net/?f=%3D%5Cfrac%7B5.6%5Ctimes%2049000%20%7D%7B100%7D)
![=\frac{274400}{100}](https://tex.z-dn.net/?f=%3D%5Cfrac%7B274400%7D%7B100%7D)
![=\$ 2744](https://tex.z-dn.net/?f=%3D%5C%24%202744)
Hence, Kelvin's amount after 1 year,
![A_2=P_2+I_1=49000+2744=\$ 51744](https://tex.z-dn.net/?f=A_2%3DP_2%2BI_1%3D49000%2B2744%3D%5C%24%2051744)
![\because A_2-A_1=51744-49931 = \$ 1813](https://tex.z-dn.net/?f=%5Cbecause%20A_2-A_1%3D51744-49931%20%3D%20%5C%24%201813)
Therefore, after 1 year Kevin has $1813 more than Charles.