I think its... A (but not sure)
Answer:
After 10 years
Rick will have $1,480.24
Sally will have $1,500
Step-by-step explanation:
Data provided in the question:
Principle amount = $1,000
Now,
For Rick
Interest rate by bank, r = 4% = 0.04
Time period, n = 10 years
Now,
Final amount after 10 years with Rick using the compounding formula
Final amount = Principle × (1 + r)ⁿ
= $1,000 × (1 + 0.04 )¹⁰
= $1,480.24
For Sally
Amount paid each year = $50
Therefore,
Total amount paid in 10 years = $50 × 10
= $500
Thus,
Final amount Sally will have after 10 years
= $1,000 + Total amount paid in 10 years
= $1,000 + $500
= $1,500
Hence,
After 10 years
Rick will have $1,480.24
Sally will have $1,500
Answer: I think it is -0.4
Step-by-step explanation:
The answer to the solution of the equation 5x+2y=-1 is 1,-3)
Answer:4000 deposit times 0.5 interest is 2,000. 2,000 x4 = 8,000 for 4 years.
Step-by-step explanation:
