Question

Jane deposits $2,500.00 in two separate accounts. *Account A earns 4.8% interest compounded annually. *Account B earns 4.8% annual simple interest. What will be the end balance for for Account A after 5 years?

What will be the end balance for for Account B after 5 years?
What is the sum of the balances of Account A and Account B at the end of 5 years?

Answer 1

at the end of 5 years it will be $1,280.30 for one one account so it would be same for each account