Asked by megan

9. Your fixed expenses are $1,151.65/month. You saved 4 months' worth in an emergency fund,
investing 25% in a savings account at a 3.3% APR and the rest in a 60­day CD at a 4.3% APR.
How much total interest accrues over 60 days?
(1 point)
$
10. 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 day
Answered by Henry
9. 1151.65/mo. * 4mo. = $4606.60 = Amt. saved.

I = Po1*r1*t + Po2*r2*t.
Po1 = 0.25*4606.60 = $1151.65.
Po2 = 0.75*4606.60 = $3454.95.

I = 1151.65*(0.033/360)*60 + 3454.95*(0.043/360)*60 = 6.33 + 24.76 = $31.09 Total.

10. I = 4606.60*(0.033/360)*60 = $25.34.

Diff. = 31.09-25.34 = $5.75.
Answered by Brendan
Its actually 5.68
Source-Just took this test lmao
Answered by ur mom Ashley
9. $30.67
10. $5.68
Answered by bling bling boy
ong its 5.68
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