It’s going to be Lindsay’s birthday soon and her 5 friends Mary Jacqui Tadeusz opal and Tony have contributed equal amounts of money to buy her a present. They have $45.00 to spend between them. Determine how much each contributed A. 5y = $45.00; y = $9.00
B. 5y = $45.00; y = $10.00
C. 5 + y = $45.00; y = $39.00
D. 5 + y = $45.00; y = $40.00

5y = 45.00; y = $9.00

Step-by-step explanation:

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hru

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

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