Question

Someone helpme answer this. please

Answer 1

(D) $694.51

Explanation:

$400 was deposited with 3.5% simple interest.

2 years interest

= 3.5/100 x 400 x 2

= $28

Amount after 2 years

= 400 + 28

= $428

$250 was deposited with 3 1/4 compounded interest.

3 1/4 = 3.25

Amount at the end of 2 years

= 250 (1 + 3.25/100)²

= $266.51

Total amount after 2 years

= 428 + 266.51

= $694.51

Answer 2

C.) 694.25

Explanation:

It can not be A for obvious reasons. With my calculations C and D are close but C would be the correct answer.

·Hope I helped, -SunnySideHelper·