Tahmar knows the formula for simple interest is i = prt, where i represents the simple interest on an amount of money, p, for t years at r rate. she transforms the equation to isolate p : p = . using this formula, what is the amount of money, p, that will generate $20 at a 5% interest rate over 5 years?
$

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500

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