Question

If Yvonne lends $4500 to Golda at 10% p.a. and Golda lends the same sum to Tida at 11.5% p.a., then the gain of Golda in a period of 4 years is?

Answer 1

Answer:

$270

Step-by-step explanation:

Golda gains the difference in interest rate:

11.5%-10%=1.5%

for 4 years the gain is:

1.5%*4=6%

In money it is:

6% of $4500= $4500*6/100= $270

Golda gains $270