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Sagot :
We would apply the formula for calculating simple interest whch is expressed as
I = PRT
where
I is the interest
R is the interest rate
P is the principal or amount invested
T is the time in years
From the information given, Marilys earned $34 after one year from an investment of $850. We would find the interest rate, R. Here,
I = 34
P = 850
T = 1
By substituting these values into the formula, we have
34 = 850 x R x 1 = 850R
Dividing both sides of the equation by 850, we have
34/850 = 850R/850
R = 0.04
We would multiply by 100
R = 100 x 0.04 = 4%
The interest rate for Makana is 1% more than that of her friend Marlys. This means that Makana's interest rate is 4 + 1 = 5%
P = 900
T = 1
R = 5/100 = 0.05
By substituting these values, we have
I = 900 x 0.05 x 1
I = 45
Makana earned $45 in one year
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