Answer:
$920
5.75%
Step-by-step explanation:
interest earned on deposit can be determined by determining the simple interest
Simple interest = principal x time x interest rate
principal = the amount deposited
Time = the duration of the deposit
interest rate = the percentage on deposit that would be earned
$12,000 x 0.06 x 1 = $720
$4000 x 0.05 = $200
Total = $720 + $200 = $920
Percentage interest for the total deposit = (total interest earned / total amount deposited ) x 100
total amount deposited = $12,000 + $4,000 = $16,000
($920/$16,000) x 100 = 5.75%
