Regular Expression: Conner has $875 to deposit into two different savings accounts. He will deposit $500 into Account #1, which

Question

3 years ago

8

Regular Expression: Conner has $875 to deposit into two different savings accounts. He will deposit $500 into Account #1, which

earns 3% annual simple interest. He will deposit $375 into Account #2, which earns 3.5% interest compounded annually. After two years, what will the difference be between the Amounts in the two Accounts? *

Mathematics

2 answers:

ioda · Answer 1 · 2022-08-05T12:52:53+03:00

Answer:

$5.5

Step-by-step explanation:

Account#1=simple interest

SI=PRT /100

500*3*2/100=$30

Account#2=compound interest

CI=500*3.5/100*1(year1)

=17.5

year2=(500+17.5) 517.5*3.5/100*1

=18

total=17.5+18

=35.5

because it is the question is on diffferences, you subtract (35.5-30)

=$5.5

AleksAgata [21] · Answer 2 · 2022-08-05T10:28:12+03:00

AleksAgata [21]3 years ago

3 0

Answer:

Step-by-step explanation:

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Hope this helps!