Respuesta :
After 10 years Bernadette receive will $56.25 of more interested amount in compare with Julio interested amount.
Step-by-step explanation:
The given is,
Bernadette and Julio deposit of $450
Bernadette gets 4.5% simple interest per year
Julio gets 3.25% simple interest per year
Step:1
Formula for calculate the future amount with simple interest,
[tex]F = P(1+iN)[/tex].......................................(1)
Where, F - Future amount
P - Initial deposit
i - Rate of interest
N - No. of years
For Bernadette,
P = $450
i = 4.5%
N = 10 years
Equation (1) becomes,
[tex]F = 450(1+(0.045)(10))[/tex]
[tex]= 450 (1+0.45)[/tex]
[tex]=450 (1.45)[/tex]
F = $652.5
Interested amount = F - P
= ( 652.5 - 450 )
= $202.5
For Julio,
P = $450
i = 3.25%
N = 10 years
Equation (1) becomes,
[tex]F = 450(1+(0.0325)(10))[/tex]
[tex]= 450 (1+0.325)[/tex]
[tex]=450 (1.325)[/tex]
F = $596.25
Interested amount = F - P
= ( 596.25 - 450 )
= $146.25
Step:2
Difference of interested amount for Bernadette and Julio,
= 202.5 - 146.25
= $56.25
Result:
After 10 years Bernadette receive $56.25 of more interest in compare with Julio interest.
