Emily and her twin sister Erica were each given $500 for their birthday. Emily deposits her money in an account that pays 4.75%
interest compounded annually. Erica deposits her money in a 5% simple annual interest account. After 10 years how much more money will Emily have in her account?
A $22.41
B $45.26
C $250.00
D $295.26
A $22.41
B $45.26
C $250.00
D $295.26
1 answer:
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Answer:
Grant will make $60 from selling 12 magazines.
Step-by-step explanation:
Let m represent number of magazine sold and A represent amount of money earned.
We have been given that Grant earns $5 for each magazine he sells. So amount earned from m magazines would be 5 times m that is dollars.
Now, we will equate total amount earned by Grant with A as:
Therefore, our required equation would be .
To find the amount earned by Grant by selling 12 magazines, we will substitute in our equation as:
Therefore, Grant will make $60 from selling 12 magazines.