You have 2 different savings accounts. For Account A, the simple interest earned after 18 months is $8.33. For Account B, the simple interest earned after 15 months is $13.75. If the interest rate is 3.7% for Account A and 2.2% for Account B, how much is the principal in each account? Which account earned you the most interest the first month? Explain your answer.

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06-01-2021
Mathematics

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You have 2 different savings accounts. For Account A, the simple interest earned after 18 months is $8.33. For Account B, the simple interest earned after 15 months is $13.75. If the interest rate is 3.7% for Account A and 2.2% for Account B, how much is the principal in each account? Which account earned you the most interest the first month? Explain your answer.

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rain02934 rain02934 · Answer 1 · 2021-01-26T18:13:29-05:00

rain02934 rain02934

26-01-2021

Answer:

the principal would earn about 25-50 cents per month on account b and earn,about 2-10 cents on account A, and account b earns you the most and has the most interest.

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