Question

You have 2 different savings accounts. For Account​ A, the simple interest earned after 9 months is ​$6.75. For Account​ B, the simple interest earned after 21 months is ​$19.25. If the interest rate is ​3.6% for Account A and 2.2​% for Account​ B, how much is the principal in each​ account? Which account earned you the most interest the first​ month? Explain your answer.

PLS HELP ME WITH THIS, I DON'T UNDERSTAND THIS!

Answer 1

Step-by-step explanation:

Answer: Foremost sum could Be a = $250.09 Principal sum is B = $400. Account B earned you the foremost intrigued the first​ month The equation for straightforward intrigued is communicated as I = PRT/100 Where P = the central or starting sum of cash invested. R = intrigued rate T = time

On account A,

I = $6.94

R = 3.7%

T = 9 months = 9/12 = 0.75 years.

On account B,

I = $13.80

R = 2.3%

T = 18 months = 18/12 = 1.5 years

To decide the account that earned more intrigued within the to begin with month we separate the intrigued by the number of months.

$6.94/9 = $0.7711

$13.80/18 = $0.7667

Account B earned you the foremost intrigued the first​ month since $0.7667 is higher than $0.7711.

hoped this helped :-)