Question

Ira invests $8000 into an account that earns 5.6% simple interest for 6 years. He does not make any other deposits or withdrawals.

At the end of 6 years, Ira invests the entire account balance into a different account that earns 6% simple interest. He leaves the money in the account for 3 years without making any additional deposits or withdrawals.


What is the new account balance at the end of 3 years?


Drag and drop values into the boxes to correctly complete the statements.


Ira invests $(Answer) into the account that earns 6% simple interest. At the end of 3 years, the account balance is $(Answer)

Answers: 483.84 - 1923.84 - 2688 - 10,688 - 12,611.84 - 13,376

Answer 1

Explanation:

Question

Ira invests $8000 into an account that earns 5.6% simple interest for 6 years. He does not make any other deposits or withdrawals.

At the end of 6 years, Ira invests the entire account balance into a different account that earns 6% simple interest. He leaves the money in the account for 3 years without making any additional deposits or withdrawals.

What is the new account balance at the end of 3 years?

Drag and drop values into the boxes to

Answer 2

10,688 and 12,611.84

Explanation:

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