Mathematics: Two brothers, kevin and charles, each inherit $49000. kevin invests his inheritance in a savings account with an annual return of 1.9%, while charles invests his inheritance in a cd paying 5.6% annually. how much more money than kevin does charles have after 1 year?

Two brothers, kevin and charles, each inherit $49000.

randlemccray1907

03.01.2022

$ 1813

Step-by-step explanation:

Given,

Investment of Kevin, P_1 = $ 49000,

Rate of interest = 1.9 % annually,

Thus, his interest, I_1 = 1.9% of 49000

$=\frac{1.9\times 49000}{100}$

$=\frac{93100}{100}$

$=\$ 931$

Hence, Kelvin's amount after 1 year,

$A_1=P_1+I_1=49000+931=\$ 49931$

Now, Investment of Charles, P_2 = $ 49000,

Rate of interest = 5.6 % annually,

Thus, his interest, I_2 = 5.6% of 49000

$=\frac{5.6\times 49000 }{100}$

$=\frac{274400}{100}$

$=\$ 2744$

Hence, Kelvin's amount after 1 year,

$A_2=P_2+I_1=49000+2744=\$ 51744$

$\because A_2-A_1=51744-49931 = \$ 1813$

Therefore, after 1 year Kevin has $1813 more than Charles.

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azaz1819

20.05.2020

number is 1

Step-by-step explanation:

let the number be n , then 2 times the number is 2n and 3 more than this is

2n + 3 , so

2n + 3 = n + 4 ( subtract n from both sides )

n + 3 = 4 ( subtract 3 from both sides )

n = 1

That is the number is 1

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