Rick deposits $1,000 into an investment account which earns 4% annually. Sally loans $1,000 to a friend, and the friend agrees to pay her $50 each year, and will return the $1,000 after 10 years.

Question

Determine the amount of money each person has after 10 years.

A. Rick: $1,040; Sally: $1,500
B. Rick: $1,453.16; Sally: $1,500
C. Rick: $1,534.32; Sally: $2,000
D. Rick: $1,480.24; Sally: $1,500

I know Sally earns $1,500... but what about Rick? Please help?

Answer 1

Nevermind, I was able to solve it.
It's D.

Answer 2

You sure?

Answer 3

Rick: 1000(1.04)^years
Sally: 1000+(50*years)

Answer 4

just took the quiz and it is D

Answer 5

took the practice test and quick check for Unit 3 Lesson 1, answers are:

1. B
2. C
3. C
4. D
5. D
6. C
7. B
8. C
9. D
10. C

and the quick check

1. A
2. B
3. D
4. C
5. D

Answer 6

ur moms by <3 is right

Answer 7

100% thank you