Question

Hi i have put the question in the image please solve it

Answer 1

`\begin{gathered} 100(x)^t \\ \\ x=1+r \end{gathered}`

Use the formula above to find the amount in account after t years

r is the interest rate in decimal form

After 10 years:

Jessica's account:

r= 0.02

`100(1+0.02)^(10)=100(1.02)^(10)=121.90`

Tyshaun's account:

r= 0.025

`100(1+0.025)^(10)=100(1.025)^(10)=128.01`

Subtract the final amounts:

`Tyshaun^(\prime)saccount-Jessica^(\prime)saccount=128.01-121.90=6.11`

Then, after 10 years Tyshaun's initial deposit have earned $6.11 more money than Jessica's initial deposit.

Answer: 6.11