Question

Giovanna deposited $1600 into two different savings account she deposited half of the money at first Oak and the other half at West United how much interest will she have earned from both accounts at the end of five years ?

Answer 1

Answer: $8000r

Explanation:

Assuming that both savings accounts earn the same interest rate over the five-year period, Giovanna would have earned the same amount of interest on both accounts.

If she deposited half of the money, which is $1600/2 = $<<1600/2=800>>800, into each account, then the total amount of money she deposited into savings is $800 + $800 = $1600.

Let's say the interest rate on both accounts is r, expressed as a decimal. The amount of interest Giovanna earns on the Oak account after five years would be:

Interest on Oak account = $800 * r * 5

Similarly, the amount of interest she earns on the West United account after five years would be:

Interest on West United account = $800 * r * 5

The total amount of interest she earns from both accounts would be the sum of these two amounts:

Total interest = Interest on Oak account + Interest on West United account

= ($800 * r * 5) + ($800 * r * 5)

= $1600 * r * 5

= $8000r

So, the total amount of interest Giovanna will have earned from both accounts at the end of five years is $8000r. The actual value of r would depend on the interest rate offered by each savings account.