Respuesta :
Answer:
It is clear that, The Shelly account is $11.23 more than that in Anne account .
Step-by-step explanation:
Given as :
For Anne
The amount deposited in account = p = $500
The rate of interest = r = 6% at simple interest
The time period of deposit = t = 4 years
Let The amount received in account after 4 years = $[tex]A_1[/tex]
From Simple Interest method
Simple Interest = [tex]\dfrac{\textrm principal\times \textrm rate\times \textrm time}{100}[/tex]
Or, s.i = [tex]\dfrac{\textrm p\times \textrm r\times \textrm t}{100}[/tex]
Or, s.i = [tex]\dfrac{\textrm 500\times \textrm 6\times \textrm 4}{100}[/tex]
Or, s.i = [tex]\dfrac{12000}{100}[/tex]
i.e s.i = $120
∵ Amount = Principal + Interest
Or, [tex]A_1[/tex] = p + s.i
Or [tex]A_1[/tex] = $500 + $120
Or, Amount = $620
So, The Amount in Anne account after 4 years is $620
Again
For, Shelly
The amount deposited in account = P = $500
The rate of interest = R = 6% compounded annually
The time period of deposit = T = 4 years
Let The amount received in account after 4 years = $[tex]A_2[/tex]
From Compound Interest method
Amount = Principal × [tex](1+\dfrac{\textrm rate}{100})^{\textrm time}[/tex]
Or, [tex]A_2[/tex] = P × [tex](1+\dfrac{\textrm R}{100})^{\textrm T}[/tex]
Or, [tex]A_2[/tex] = $500 × [tex](1+\dfrac{\textrm 6}{100})^{\textrm 4}[/tex]
Or, [tex]A_2[/tex] = $500 × [tex](1.06)^{4}[/tex]
Or, [tex]A_2[/tex] = $500 × 1.26247
Or, [tex]A_2[/tex] = $631.23
So, The amount received by Shelly in her account after 4 years = $631.23
Now, Difference between amount received in their account
i.e [tex]A_2[/tex] - [tex]A_1[/tex] = $631.23 - $620
Or, [tex]A_2[/tex] - [tex]A_1[/tex] = $11.23
Hence, It is clear that, The Shelly account is $11.23 more than that in Anne account . Answer
