07stephanie
Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Jamal deposits $2,500 into each of two savings accounts.

•Account 1 earns 4% annual simple interest

•Account Il earns 5% annual simple interest

Jamal does not make any additional deposits or withdrawals.

What is the sum of the balances of Account and Account If at the end of 3 years?

Sagot :

kaleighgig
Account one will have $2800.
Account two will have $2875

And just so you can know how I figured it out if you times 4 x 3 that is 12 and 12% of 2500 is 300 and then add that to the initial amount and that’s how I got that one. And you do the same thing with the other one and do 5×3 and that is 15 and 50% of 2500 is 375 and that’s how I got the other answer
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.