23 Matteo is going to invest 5000 Swiss francs for two years. He can invest his money in Bank G or in Bank H Bank 2.9% interest added after two years The total amount of interest Matteo would receive at the end of two years from Bank G is more than the amount of interest Matteo would receive at the end of two years from Bank H How much more? 24 (a) Write down the value of (m+2)^0 where m is a positive integer.

Solution

23 M a tt eo i s g o in g t o in v es t 5000 Sw i ss f r an cs f or tw o ye a rs . He c an in v es t hi s m o n ey in B ank G or in B ank H B ank 2.9% in t eres t a dd e d a f t er tw o ye a rs T h e t o t a l am o u n t o f in t eres t M a tt eo w o u l d rece i v e a t t h e e n d o f tw o ye a rs f ro m B ank G i s m ore t han t h e am o u n t o f in t eres t M a tt eo w o u l d rece i v e a t t h e e n d o f tw o ye a rs f ro m B ank H Ho w m u c h m ore ? 24 (a) W r i t e d o w n t h e v a l u e o f (m + 2)^{0} w h ere m i s a p os i t i v e in t e g er .

Amount : 5290

Solution steps

Translate the problem into an equation:

A = 5000 (1 + 0.029 \cdot 2)

5000 (1 + 0.029 \cdot 2) = 5290

Amount : 5290