Gertie was sitting on her porch when she saw William, a person who lived down the street from her whom she occasionally spoke to
1 answer:
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Answer:
correct answer is c. You both have the same amount of money
Explanation:
given data
invest = $1000
pay compound interest = 10%
pay simple interest = 10%
time = 1 year
solution
we get here difference in the total amount that is your friend money - your money .................1
so difference in the total amount = invest × - [ invest + ( invest × rate × time) ] ......................2
put here value
difference in the total amount = $1000 × - [$1000 + ( 1000 × 10% × 1) ]
difference in the total amount = 0
so correct answer is c. You both have the same amount of money