Question

two Brothers Marvin Lewis each invest $5000 into an account that earns 5% interest neither brothers deposit or withdraw anything from the account for 25 years if Marvins account earns compound interest and lose his account earns simple interest who are in the more interest after 25 years in by how much

Answer 1

Answer: Marvin will earn $10,681.77 more in interest than Luis

Step-by-step explanation: A = P(I+r)t

Answer 2

Marvin will earn $10,125 more in interest than Luis.

How much does 1,000 reais per month in savings?

To calculate how much we earn a thousand reais in the economy, we have to consider a return of 0.5%. With this rate, if you invest a thousand reais in savings, you will have about R$ 61.70 in a year. Currently, one thousand reais in savings yields R$5 per month.

So in this case, we have the information that:

• each invest $5000
• earns 5% interest
• account for 25 years if Marvins

The simple interest formula is equal to:

$I=P(tr)$

where:

• P is the Principal amount of money to be invested
• r is the rate of interest  
• t is Number of Time Periods

if Si is a knowing value, that can be put in the formula:

$Si=p*t*r/100\\10000=p*(25)(5)/100\\p= 1.25\%\\\\T= 10.125$

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