Jeremiah opened a savings account with a one-time deposit of $500. His savings account will pay a 5% simple interest per year. His brother, Brian, opened another savings account with a one-time deposit of $200. Brian’s savings account will pay 3% compounded annually. Who would earn more interest, to the nearest dollar, in 2 years?

Answer:

jeremiah would earn more interest to the nearest dollar in 2 years

Step-by-step explanation:

It is found that jeremiah would earn more interest to the nearest dollar in 2 years.

If the initial amount (also called as principal amount) is P, and the interest rate is R% annually, and it is left for T years for that simple interest, then the interest amount earned is given by:

[tex]I = \dfrac{P \times R \times T}{100}[/tex]

Given that Jeremiah opened a savings account with a one-time deposit of $500. Rate of 5% simple interest per year.

I = 500 x 5 x 1/100

I = 25

For 2 year it would be 50 dollars.

Also, Brian, opened another savings account with a one-time deposit of $200. Rate of 3%

[tex]a = p(1 + \dfrac{r}{n})^{nt}\\a = 200(1 + \dfrac{3}{2})^{4}[/tex]

a = 12.35

Hence, It is found that jeremiah would earn more interest to the nearest dollar in 2 years.

Learn more about simple interest here:

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People are not allowed to live along the coastlines of Asia.

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SOMEONE HELP PLEASE MY ASSIGNMENT IS DUE TODAY.
ANSWER THESE QUESTIONS PLEASE

Answer quickly for a reward. [Even more, points if it's correct!]

--See attachment--

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588.88 m

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B 15

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supplementary angles

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x = - 70/9
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2015 $1140
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one third

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Question 6 (2 points)
(09.04 LC)

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four tenths

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(09.04 LC)

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A
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B
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C
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D
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