Ricardo and Mia invested money in a bank with a compounded interest of 2%. Ricardo's investment is modeled by f (x) and Mia's investment is modeled by g (x). At the time of the initial deposit, how much more did Ricardo invest than Mia?

Answer 1

We need to know the specific amounts that Ricardo and Mia invested in order to determine how much more Ricardo invested than Mia.

Let's denote the initial amount that Ricardo invested as R and the initial amount that Mia invested as M.

The formula for compounded interest is given by A = P(1 + r/n)^(nt), where:
A = the amount of money accumulated after n years, including interest.
P = the principal amount (the initial amount of money that was invested).
r = annual interest rate.
n = number of times that interest is compounded per year.
t = number of years.

For Ricardo's investment:
f(x) = R(1 + 0.02)^x

For Mia's investment:
g(x) = M(1 + 0.02)^x

We need to find the difference between Ricardo's initial investment and Mia's initial investment:
Difference = R - M

Without knowing the specific amounts that Ricardo and Mia invested, we cannot determine the exact difference between their initial investments.