Answer:
[tex]{ \underline{ \mathfrak{ \: asnwer : }}}[/tex]
Richard's investment = David's investment
• From compound interest formula:
[tex]{ \boxed{ \bf{investment = p(1 + \frac{r}{100}) {}^{n} }}}[/tex]
- P is the principle
- r is the rate
- n is the period
Therefore:
[tex]{ \rm{10000(1 + \frac{x}{100}) {}^{7} = 10000(1 + \frac{2}{100}) { }^{7} }} \\ \\ { \rm{1 + \frac{x}{100} = 1 + \frac{2}{100} }} \\ \\ { \rm{x = \frac{2 \times 100}{100} }} \\ \\ { \boxed{ \rm{ \: x = 2 \: }}}[/tex]
