Pre-Algebra can you please help?!

posted by DerpyPegasus33

Lester deposited $400 into a savings
account earning 4.5% simple interest, and
$450 into an investment account earning
3.2% interest compounded annually. What
was the total interest he earned in 3 years?

A $986.00
B $89.06
C $9.60
D $98.60

  1. bobpursley

    what is

    totalINTEREST= 400( 1.045)^3 + 450( 1.032)^3 -400-450

    put this in your google search window
    400( 1.045)^3 + 450( 1.032)^3 - 850=

  2. DerpyPegasus33

    It gives me 101.06. That's not in the answer options...

  3. bobpursley

    Opps, it is wrong. This said simple interest, not compounded.
    try
    totalINTEREST= 400( .045)x3 + 450(.032)x3

  4. Reiny

    interest from simple interest = 400(.045)(3) = 54
    interest fromt he compound account
    = 450(1.032)^3 - 450 = 44.60

    total interest = 54 + 44.60 = 98.60 , which is D

  5. DerpyPegasus33

    Yeah it gave me D. I did both the simple and compound interest and then added them to get my answer. Thanks!!!

Respond to this Question

First Name

Your Answer

Similar Questions

  1. Math (Algebra/Pre-Algebra)

    Ms. Caswell deposits $450 into an account earning 8% interest per year. How much simple interest is earned after 4 years?
  2. math

    Suppose that $200 was deposited on 1st Jan 2000 into an account that earned 5% interest compounded semiannually. Suppose further that $200 was deposited on 1st Jan 2001 into a different account that earned 6% interest compounded semiannually. …
  3. Algebra( check my answers)

    1. Juan deposited $200 in a savings account earning 3% interest over 2 years. What was the total amount of interest earned after 2 years?
  4. math

    Huan deposited $850 into a collegesavings account earning 4.8% interestcompounded annually. He also deposited$850 into a second account earning 4.8%simple interest. He made no additionaldeposits. After 10 years, which account earnedmore …
  5. MATH HELP! Complex Interest

    Huan deposited $850 into a collegesavings account earning 4.8% interestcompounded annually. He also deposited$850 into a second account earning 4.8%simple interest. He made no additionaldeposits. After 10 years, which account earnedmore …
  6. Can you help me with this math problem? ASAP plz!

    Lester deposited $400 into a savings account earning 4.5% simple interest, and $450 into an investment account earning 3.2% interest compounded annually. What was the total interest he earned in 3 years?
  7. Lat math question for some days. Can y'all help?

    Huan deposited $850 into a college savings account earning 4.8% interest compounded annually. He also deposited $850 into a second account earning 4.8% simple interest. He made no additional deposits. After 10 years, which account …
  8. Math

    I need to see how this is answered. 1. Lauren deposited $200 into her savings account with 1% interest rate compounded annually. After 4 years her balance was $208.12. Colby deposited $200 into a savings account that earned a 2% simple …
  9. math (algebra 1)

    help please, i need help on this question wendy deposited $60 in a savings account earning 10% interest, compounded annually. To the nearest cent, how much interest will she earn in 3 years?
  10. math

    Ness won $2400000 in a state lottery. After paying 39% of her winnings to taxes, she invested some of the money into an account earning 4.8% interest and the rest into an account earning 3.9% interest. If the total interest earned …

More Similar Questions