Register
Gia opened two savings accounts as two different banks. One account earns an annual 3.4% simple interest, and the other earns half as much. If she deposited $500 in each account, how much total interest
87.0k views
0 votes
Gia opened two savings accounts as two different banks. One account earns an annual 3.4% simple interest, and the other earns half as much. If she deposited $500 in each account, how much total interest will she have earned in 5 years?

User Vpozdyayev
by
8.5k points

1 Answer

3 votes
First account: 500(1.034)^5 = $590.98

Second account: 500(1.017)^5 = $543.97
User Channs
by
7.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.6m questions

11.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!