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3 years ago

Will give the brainliest answer,

2 answers:

7 0

The answer to this would be $30.67

First of all APR is the wrong term for interest earned on a deposit. So I'm going to guess that you really mean simple interest. Step one figure the amount in the emergency fund. Since the monthly expenses are $1,157.65, you multiply 4 months times $1,157.65: 4($1,157.65) = $4,606.60

Step 2, figure out how much is 25% of $4,606.60. So change the percent in a decimal by moving the decimal to the left two places. So 25.0 becomes .25. Or you could divide 25 by 100 and get .25 Next multiply .25 times $4,606.60 and you get $1,151.65 for the amount in the savings account.

Step 3, subtract the amount in deposited in the savings account from the total amount in the emergency fund. So you $4,606.60 minus $1,151.65 Which gets you $3,454.95 in the CD.

Step 4, Calculate the interest earned in the savings account. Since the savings account earns 3.3% a year and there are 365 days in a non leap year, divide 3.3% by 365 to find out how much interest is earned a day and multiply it times the amount in the savings account. First change 3.3% to a decimal by moving the decimal point to the left two places. Which gets us .033 So .033 divided by 365 times $1,151.65 Which gets us about $0.104 in interest a day. Finally, multiply the interest earned each day by 60 days. $0.104 times 60 Which gets us about $6.25 in interest earned on the savings account for 60 days.

Step 5, Find the interest earned on the CD. Since the CD earns 4.3% interest a year and there are 365 days in a non leap year, divide 4.3% by 365 to find out how much interest is earned a day and multiply it times the amount in the CD. First change 4.3% to a decimal by moving the decimal point to the left two places. Which gets us .043. So .043 divided by 365 times $3,454.95 Which gets us about $0.407 in interest a day. Finally, multiply the interest earned each day by 60 days. $0.407 times 60. Which gets us about $24.42 in interest earned on the CD for 60 days

Step 6, The total interest earned on the savings account and the CD is: $24.42 + 6.25 = $30.67

Brut [27]3 years ago

6 0

In short, the correct answer is $30.67

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