Cat has 450 to deposit into two different savings accounts Kent will deposit $200 into account one which earns 2.5% annual simple interest he would have positive 250 into account two which 1% annual interest compound and two for annually Kent will not make any additional deposits or withdrawals which amounts at the end of 3 years
To find the amounts in each account after 3 years, we can use the formulas for simple interest and compound interest:
For account one (simple interest):
A = P(1 + rt)
A = 200(1 + 0.025*3)
A = 200(1 + 0.075)
A = 200(1.075)
A = 215
After 3 years, account one will have $215.
For account two (compound interest):
A = P(1 + r/n)^(nt)
A = 250(1 + 0.01/1)^(1*3)
A = 250(1 + 0.01)^3
A = 250(1.01)^3
A = 250(1.030301)
A = 257.58
After 3 years, account two will have $257.58.
Therefore, at the end of 3 years, account one will have $215 and account two will have $257.58.