what is the shortcut method of answering the Q. not the long way of multiplying the 10000 by 8 and then get the product of those and multiply them by 8 and add it and do the same until we get to the 8 years and do the same for the money in the saving account and get the difference yo know the answer

Hi!

sorry for the late reply,

we don’t need to calculate interest rate for this question as it has already been done for us in the table.

interest rate for $1000 at 8% for 8 years is = $1851 according to the table

so for $10000 it will be = 1851 * 10 = $18510

interest rate for $1000 at 6% for 8 years is = $1594 according to the table

so for $10000 it will be 1594 * 10 = $15940

18510 - 15940 = $2570 (Answer B)