Question

Need help asap, please someone will help me understand this better

Answer 1

Answer:

B.) $695.00

Step-by-step explanation:

To find interest on the money put into a savings account, you can use the equation I = Prt. I stands for interest. P stands for the principal (the money you put in). R stands for rate (3.5% annual simple interest). T stands for time. Now that you know what the formula means you can plug in your variables to find interest. I=400*3.5%*2 makes an interest of $28 which you can add to $400 to find $428 in your first account. In the second account I=250*3.25%*2 makes an interest of $16.25 which you can add to 250 to get $267.81. $267.81+$428=about$695.00