Answer:
Tyshaun's initial deposit have earned $28.01 more money than Jessica's initial deposit
Step-by-step explanation:
As given, Jessica's initial deposit = $100
Tyshaun initial deposit = $ 100
As given, Tyshaun account earns 2.5 percent interest compounded annually.
rate = 2.5% = 0.025
so, after t= 10 years
Payment = P[tex](1+r)^{t}[/tex] = 100[tex](1+0.025)^{10}[/tex] = 100[tex](1.025)^{10}[/tex] = 128.01
So ,
Interest = Money earned by Tayshaun - Jessica's initial deposit
= 128.01 - 100
= 28.01
∴ we get
Tyshaun's initial deposit have earned $28.01 more money than Jessica's initial deposit
