What is the difference in the interest that would have accrued if all of the money from question #9 had only been in the savings account for the same 60 days? Round to the nearest penny.
To calculate the difference in interest accrued if all of the money from question #9 had only been in the savings account for 60 days, we first need to calculate the interest accrued on the entire amount at the savings account interest rate of 1.5%.
$15,000 * 0.015 * (60/365) = $36.99
Now, we need to subtract the interest accrued on the money in the CD for the first 30 days:
$10,000 * 0.02 * (30/365) = $16.44
Therefore, the difference in interest that would have accrued if all of the money had been in the savings account for the same 60 days would be:
$36.99 - $16.44 = $20.55
So, the difference in interest accrued would be $20.55.