Answer:
Equivalent fractions and ratios mean that when simplified, they are the same one fraction or ratio. see examples below.
Step-by-step explanation:
For example, the fraction 1/2 is the same as 2/4 or 15/30 because when you simplify them, they are still 1/2. Therefore they are equivalent.
For example, the ratio 1:2 is the same as 5:10 or 10:20 since when broken down they all come down to 1:2. Hence they are equivalent.
Hope this answers your question.
The total amount of interest earned each year will be
5.2% × $1,500,000 = $78,000
_____
We would need to know more about the beneficiaries (their number and the way they might split the proceeds) and how they might use the balance in the account (whether interest only, or interest and principal are withdrawn) before we could answer the question asked.
