How long would you need to keep $775 in an account that pays 3% simple interest to earn $93 interest?
1 answer:
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Here we have a system of equation like this:
from the first equation we get:
Substitute in the second equation we get:
Substitute i the first equation again we get:
We deduce that:
A is bigger than B.
from the first equation we get:
Substitute in the second equation we get:
Substitute i the first equation again we get:
We deduce that: