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2 years ago

1. Ralin and Michael each opened a savings account with a deposit of $15,950.

Mathematics

1 answer:

MaRussiya [10]2 years ago

6 0

Answer:

Simple interest formula

I = Prt, I- amount of interest, P- principal, r- interest rate, t - time
A = P(1 + rt), A - final amount, the rest as above

18 months = 1.5 years

The difference in the amount of interest:

$15950*1.5*(5.5-3)/100 = $598.13

$3000*(1 + 4*12/100) = $4440

$7050*8*(6 - 5.5)/100 = $282

$950*(1 + 12*3.65/100) = $1366.10

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