9514 1404 393
Answer:
$6484.80
Explanation:
Account I:
The balance in the account after 2 years will be ...
A = P(1 +rt)
A = $3000(1 +0.04(2)) = $3240
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Account II:
The balance in the account after 2 years will be ...
A = P(1 +r)^t
A = $3000(1 +0.04)^2 = $3244.80
__
The sum of the two balances after 2 years is ...
$3240 +3244.80 = $6484.80