Question

Wanda has decided to divide her $50,000 investment between three simple interest accounts. She placed $35,000 into an account that pays 8 percent. She invests half of the remaining money into an account that pays 10.5 percent and the other half into a 14 percent account. If she leaves the money alone for seven years, how much money will she have in total?

Answer 1

A=p(1+rt)
A=35,000×(1+0.08×7)+7,500×(1+0.105×7)+7,500×(1+0.14×7)=82,462.5