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 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?

Answer 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 ...

Answer 2

yeah.
Okay thank you...I will

Answer 3

I meant 2 1/4%
Sorry for the confusion

Answer 4

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

Answer 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?

Answer 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
Then add the totals (375.00+202.50)=577.50

Answer 7

wait so what's the answere?

Answer 8

answer ^

Answer 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.

Answer 10

thats not the real ms sue they just used the emoji

Answer 11

guys its almost Christmas pogchamp

Answer 12

what is the answer?

Answer 13

858.21

Answer 14

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

Answer 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?

Answer 16

die

Answer 17

no u die >:(

Answer 18

whats Answer

Answer 19

me ned anserrrrrrrrrrrrrrrrrrr

Answer 20

So you add the 577.50 too the 800 and then you subtract them and the res tis hard to explain

Answer 21

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

Answer 22

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%

Answer 23

Huh.

Answer 24

YARE YAREDA ZE

Answer 25

I can't beat the !!!!! out of you if i don't get closer

Answer 26

hohooo come as close as you like >: )

Answer 27

For some reason my final answer was 19.25. I'm sending it anyway. Wish me luck!