Question

Refer back to Question #3. If Lili had invested her money in a CD in the 1980's (when CDs had
the highest rates in modern history) she could have received an interest rate of 11%. How
much more money would Lili have earned in the 1980's compared to now?

Answer 1

Lille would have earned 1.11 times the money invested.

What is an Equation

An equation is an expression that is used to show the relationship between two or more numbers and variables.

Let x represent the amount of money invested, hence:

Value of money now = x + 11% of x = x + 0.11x = 1.11x

Lille would have earned 1.11 times the money invested.

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