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Ghella [55]
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:
ioda3 years ago
5 0

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]3 years ago
3 0

Answer:

Step-by-step explanation:

Rising Bank Online Savings Can Help You Prepare For Life's Biggest Milestones. Learn More! Top Tier Saving Rates. $1,000 Minimum Deposit. FDIC Insured

Hope this helps!

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