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Lester deposited $400 into a savings account earning 4.5% simple interest and 450 into an investment account earning 3.2% interest compound annually. What was the total interest he earned in 3 years for both accounts?
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Answered by
Pre algebra
Lester deposited $400 into a savings account earning 4.5% simple interest and 450 into an investment account earning 3.2% interest compound annually. What was the total interest he earned in 3 years for both accounts?
A. 54.00
B. 44.60
C. 81.90
D. 98.60
A. 54.00
B. 44.60
C. 81.90
D. 98.60
Answered by
oobleck
400*0.045*3 + 450*(1.032^3 - 1)
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