Tom has been a customer of the same bank foe two years and his income can change frommonth to month after paying bills. tom places 250.00 a month in a two year cd. he notices that last year twice he withdrew 250.00 from his cd early to pay monthly bills. his bank charges a penalty for a early cd withdraw. his bank requires a minimum of 150.00 for regular savings accounts 750.00 for money markets, and 1,000 for cds what would be the best strategy

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500

0.038

step-by-step explanation: