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You deposit $2000 in Account A, which pays 2.25% annual interest compounded monthly. You deposit another $2000 in Account B, which pays 3% annual interest compounded monthly. When is the sum of the balance
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You deposit $2000 in Account A, which pays 2.25% annual interest compounded monthly. You deposit another $2000 in Account B, which pays 3% annual interest compounded monthly. When is the sum of the balance in both accounts at least $5000?

User Antoine Combes
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1 Answer

6 votes
the equations woould look like this
a=2000(1+.0225/12) to the 12th power
b=2000(1+.03/12) to the 12th power
but i cant find the answer cuz i have no calculator sorry but i hope i still helped.
User Saurav Dangol
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8.1k points
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