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
![\text{simple interest} = \frac{principal\times rate\times time}{100} \\\\\text{simple interest} = \frac{1000\times 4\times 10}{100}=\$400\\\\amount = principal + interest\\amount = 1000 + 400 = \$1400](/tex.php?f=\text{simple interest} = \frac{principal\times rate\times time}{100} \\\\\text{simple interest} = \frac{1000\times 4\times 10}{100}=\$400\\\\amount = principal + interest\\amount = 1000 + 400 = \$1400)
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