Question

You and your friend each deposit $50 in separate savings accounts. Your account earns 2% simple annual interest. Your friend’s account earns 4% simple annual interest. How long does it take for you to earn $20 in interest? How long does it take for your friend to earn $20 in interest?
Plz explain in detail

Answer 1

Answer:

I am will take 20 years to get 20$

My friend will take 10 years to get 20$

Step-by-step explanation:

$Let \: the \: no. \: of \: years : x \\ \\ for \: me \\ x \times (50 \times 2\%) = 20 \\ x \times 1 = 20 \\ x = 20 years\\ for \: my \: friend \\ x \times (50 \times 0.04) = 20 \\ 2x = 20 \\ x = 10 \: years$

I hope this is be good for you and I want this money