You invest $1000 in each of two accounts. Account A earns simple interest at a rate of 2.42% over four years. Account B earns simple interest at a rate of 2.42% over 24 months. Find the interest earned

EXXL asked Feb 16, 2022

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EXXL asked Feb 16, 2022

by EXXL

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16 votes

Answer:

Acct A $96.80

Acct B $48.40

Explanation:

I = PRT

Acct A I = 1000(.0242)(4)

= $96.80

Acct B I = 1000(.0242)2)

= $48.40

Tushar Koul answered Feb 21, 2022

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