Rick deposits $1,000 into an investment account which earns 4% annually. Sally loans $1,000 to a friend, and the friend agrees to pay her $50 each year, and will return the $1,000 after 10 years.
Determine the amount of money each person has after 10 years.
A. Rick: $1,040; Sally: $1,500
B. Rick: $1,453.16; Sally: $1,500
C. Rick: $1,534.32; Sally: $2,000
D. Rick: $1,480.24; Sally: $1,500
I know Sally earns $1,500... but what about Rick? Please help?
took the practice test and quick check for Unit 3 Lesson 1, answers are:
1. B
2. C
3. C
4. D
5. D
6. C
7. B
8. C
9. D
10. C
and the quick check
1. A
2. B
3. D
4. C
5. D
Nevermind, I was able to solve it.
It's D.
just took the quiz and it is D
ur moms by <3 is right
100% thank you
You sure?
Rick: 1000(1.04)^years
Sally: 1000+(50*years)