# Pre-Algebra

Emma is saving money for college. She has \$800 and wants to deposit it into 2 different savings accounts. She decides to deposit \$500.00 into an account, Account IN, which earns 2.5% annual simple interest. She will then deposit \$300 into an account, Account IS, which earns 214%interest compounded annually.If Emma makes no other deposits or withdrawals, what is the total amount of money she will have at the end of 3 years?

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1. assuming you meant 2.14% and not really 214%,
500(1 + .025*3) + 300(1 + .0214)^3
Or, maybe you meant 2.4%, and not 214%. In that case,
500(1 + .025*3) + 300(1 + .024)^3

In any case, just use the formulas you have learned ...

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oobleck
2. yeah.
Okay thank you...I will

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3. I meant 2 1/4%
Sorry for the confusion

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4. huh. I hadn't considered a mixed number. :-(

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oobleck
5. Okay I will rewrite the question:
Emma is saving money for college. She has \$800 and wants to deposit it into 2 different savings accounts. She decides to deposit \$500.00 into an account, Account I, which earns 2.5% annual simple interest. She will then deposit \$300 into an account, Account II, which earns 2 1/4% interest compounded annually.
If Emma makes no other deposits or withdrawals, what is the total amount of money she will have at the end of 3 years?

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6. Does that mean that she will have a total of 577.50 by the end of the 3 years??
My work: Account I; 500.00*.25*3=375.00
Account II; 300.00*.225*3=202.5

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7. wait so what's the answere?

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9. wait I’m so confused. Mrs.Sue, is lol someone right? cause I don’t know what is right. I think it would be around \$800.

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10. thats not the real ms sue they just used the emoji

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11. guys its almost Christmas pogchamp

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13. 858.21

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14. Ye just use the emoji , also “Lol someone” is correct

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15. the question: Emma is saving money for college. She has \$800 and wants to deposit it into 2 different saving accounts, Account 1, which earns 2.5% annual simple interest. She will then deposit \$300 into an account, Account 2, which earns (2 1/4% why just say 2.14%) interest compounded annually.

If Emma makes no other deposits or withdraws, what is the total amount of money she will have at the end of 3 years?

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