Marcel invests $2500 for 3 years at a rate of 1.6% per year simple interest. Jacques invests
2 answers:
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Answer:
x= 1.961
Step-by-step explanation:
Marcel's ,P = 2500 , T = 3, R = 1.6%
SI = PRT/100
=(2500×1.6×3)÷100
Jacques's , P = 2000 , T = 3, R = x%
CI = P( 1 + R/100)^T -P
2000(1 + x/100)^3 -2000
But this is equal to 120
(1 + x/100)^3 = 2120/2000
x= 1.961
I hope this helps !!!!!!!!!!!
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