Answer:
Step-by-step explanation:
Answer:
Step-by-step explanation:
Im sorry i dont really know ur anwer. Hope someone else can help you.
C) $694.25
Why?
Because you want to times the interest by 2 (1 is for one year but u want to find the amount after two years) then you multiply the amount given to each bank separately so:
400*0.07 (7% which is 7/100) = 28
250*0.065 (6.5% which is 65/1000) = 16.25
Then u add the interests together:
28+16.25 = 44.25
Finally you add that to the amount you started with:
$650+$44.25= $694.25
12/24 simplifies to 1/2, seeing as 12 is half of 24. :) Your answer is C.
Answer: $7,605
Step-by-step explanation:
At the end of 1 years, the amount in the account will be:
= Principal * (1 + rate)^ no. of periods
= 6,500 * (1 + 17%)
= $7,605
