alexmoy45p8yd7v

02.07.2019 • 

Mathematics

Ryan deposits $775 in an account that pays 4.24% simple interest for four years. brian deposits $775 in an account that pays 4.24% simple interest for one year. a. what is ryans interest after 4 years? b. what is ryans balance after 4 years? c. how much interest did ryans account earn the first year? d. how much interest did ryan's account earn the fourth year? e. what's brian's interest after the first year f. what is brians balance after tge fourth year? g. suppose brian withdraws all of the principal and interest after the first year and deposits it into another one-year account at the same rate, what is his interest for the second year? round the nearest cent h. compare the interest brian earns with the interest ryan earns for the second year. who earned more interest? explain

Ответ:

aliciabenitez

11.03.2022

Mathematics

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Since the both started with the same principal, they will end up with the same interest.

Using the formula for simple interest;

I = PRT/100

Ryan's interest after 4 years = 775 × 4.24 × 4/100 = $131.44

Balance of Ryan after 4 years = $775 + $131.44 = $906.44

In the first year, Ryan earned;

I = 775 × 4.24 × 1/100 = $32.86

Interest earned in three years = 775 × 4.24 × 3/100 = $98.58

Interest earned in the 4th year = $131.44 - $98.58 = $32.86

Brain's interest after the first year =  775 × 4.24 × 1/100 = $32.86

Brain's balance after the forth year = $775 + 4($32.86) = $906.44

Learn more about simple interest:link

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Ответ:

expeditionofsin

26.01.2020

Mathematics

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 hb,uhliuhoikl

Step-by-step explanation:

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