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Two brothers, Rick and Charles, each inherit $38000. Rick invests his inheritance in a savings account with an annual return of 1.7%, while Charles invests his inheritance in a CD paying 5.4% annually.
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Two brothers, Rick and Charles, each inherit $38000. Rick invests his inheritance in a savings account with an annual return of 1.7%, while Charles invests his inheritance in a CD paying 5.4% annually. How much more money than Rick does Charles have after 1 year?

User Jorge Alvarado
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Answer:

Rick will have in interest 646.00 for a total of 38646. Charles will have 2052.00 interest for a total of 40052. Charles has a total of 1406.00 more than Rick.

User Ari M
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