Kaddybug6
Answered

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Neal deposits $340 into each of two savings accounts.

Account One earns 6% annual simple interest.
Account II earns 5% interest compounded annually.
Neal does not make any additional deposits or withdrawals. What is the sum of the balances of Account one and Account II at the end of 3 years?

Sagot :

louisthemyth

Answer:

Account I: 61,2

Account II: 51

Step-by-step explanation:

6% 340 = 21,4

5% 340 = 17

21,4 . 3 = 61,2

17. 3 = 51

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