-8.1
Step-by-step explanation:
<em>Times </em><em>all </em><em>by </em><em>9</em><em> </em><em>to </em><em>get </em><em>rid </em><em>of </em><em>fraction</em>
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<em>Take </em><em>2</em><em>1</em><em>.</em><em>6</em><em> </em><em>away</em><em> </em><em>from</em><em> </em><em>both</em><em> </em><em>sides</em>
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<em>Divide</em><em> </em><em>by </em><em>-</em><em>4</em>
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The sum of the balances of these accounts at the end of 5 years is given by: Option B: $53,901.59 (approx)
<h3>How to calculate compound interest's amount?</h3>If the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time for that compound interest, then the interest amount earned is given by:
The final amount becomes:
If the initial amount (also called as principal amount) is P, and the interest rate is R% annually, and it is left for T years for that simple interest, then the interest amount earned is given by:
For the considered case, we're given that:
In first account, the final amount at the end of 5 years is evaluated as:
In second account, the final amount at the end of 5 years is evaluated as:
Total amount after 5 years in these accounts = (in dollars)
Thus, the sum of the balances of these accounts at the end of 5 years is given by: Option B: $53,901.59 (approx)
Learn more about compound interest here: