The correct option of your given question is A
Step-by-step explanation:
Given,
For Sarah
Principle(P) = $800
Rate of interest(r) = 2%
Time(T) = 8 years
To find,
The compound interest
The simple interest
Formula
Compound interest = P{[tex](1+\frac{r}{100)} ^{T}[/tex])}
= $ 937.33 ( by putting the values of P, r, T we get)
For Claire
Principle(P) = $800
Rate of interest(I) = 2%
Time(T) = 8 years
Simple interest = [tex]\frac{P X I X T}{100}[/tex]
= [tex]\frac{800 X 2 X 8}{100}[/tex]
= $ 128
Total amount after 8 years for Claire = $ (800 + 128 )
= $ 928
Hence, Sarah = $ 937.33
Claire = $928
