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?
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
Then add the totals (375.00+202.50)=577.50
858.21
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?
thats not the real ms sue they just used the emoji
guys its almost Christmas pogchamp
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 ...
huh. I hadn't considered a mixed number. :-(
no u die >:(
I can't beat the !!!!! out of you if i don't get closer
hohooo come as close as you like >: )
My work: Account I; 500.00*.25*3=375.00
Account II; 300.00*.225*3=202.5
Then add the totals (375.00+202.50)=577.50
Huh.
yeah.
Okay thank you...I will
I meant 2 1/4%
Sorry for the confusion
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.
what is the answer?
Ye just use the emoji , also “Lol someone” is correct
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?
whats Answer
me ned anserrrrrrrrrrrrrrrrrrr
So you add the 577.50 too the 800 and then you subtract them and the res tis hard to explain
the you 577.50/800 * x/100
800x/800 they cancel out then you multiply 577.50 to get 57750 and the you divide that by 800 to get 72.1%