Jackson deposits $3,800 into a savings account that has a simple interest rate of 2.7%. Luisa deposits $2,700 into a savings account that ha

Question

Jackson deposits $3,800 into a savings account that has a simple interest rate of 2.7%. Luisa deposits $2,700 into a savings account that has a simple interest rate of 3.8%. Who will have more money in their account after 8 years, if no other transactions are made? How much more?

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RobertKer 2 months 2021-07-23T17:31:19+00:00 1 Answers 1 views 0

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    2021-07-23T17:32:32+00:00

    Answer:

    Jackson should have more by $1100.

    Step-by-step explanation:

    here is how

    use formula A=Principle(1+rt)

    A=3800(1+2.7(8))

    A=85880

    A=2700(1+3.8(8))

    A=84780

    then do

    85880-84780=1100

    so the answer is Jackson by 1100.

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