Do the ratios 16 4 and 4 1 form a proportion?
1 answer:
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Answer:
Better deal will be to take money after one year because there will be a profit of $1400 - $1060 = $340
Step-by-step explanation:
It is given that there is two option either you take $1400 after one year or $100 now
It is given that you can invest $1000 at a rate of 6% interest
So interest in one year
So amount after 1 year = $1000+$60 = $1060
So better deal will be to take money after one year because there will be a profit of $1400 - $1060 = $340