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Vikentia [17]
2 years ago
11

Felicia has $350 to deposit into two different savings accounts. Felicia will deposit $200 into Account I, which earns 4.5% annu

al simple interest. She will deposit $150 into Account II, which earns 334% interest compounded annually. Felicia will not make any additional deposits or withdrawals. Which amount is closes to the total balance of these two accounts at the end of 6 years?
Mathematics
1 answer:
Alisiya [41]2 years ago
5 0

Total price after 6 years in Account I is :

P _1=P_o+\dfrac{P_ort}{100}\\\\P_1=200+\dfrac{200\times 4.5 \times 6}{100}\\\\P_1=\$254

Total price after 6 years in Account II is :

P_2=P_o(1+\dfrac{r}{n})^{nt}\\\\P_2=150(1+\dfrac{3.34}{1})^{1\times 6}\\\\P_2=\$1002373.64

Total balance, T=P_1+P_2=1002373.64+254=\$1002627.64

Hence, this is the required solution.

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Decimals from 7.0 to 8.4 with an interval of 0.2 between each pair of decimals

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