Asked by Anonymous

Nicolas has $650 to deposit into two different savings accounts.

Nicolas will deposit $400 into Account I, which earns 3.5% annual simple interest.
He will deposit $250 into Account II, which earns 314% interest compounded annually.

Nicolas will not make any additional deposits or withdrawals. Which amount is closest to the total balance of these two accounts at the end of 2 years?
Answered by oobleck
400(1+0.035*2)
250(1 + 0.314)^2
Answered by Anonymous
sneaking suspicion you mean 3.14%
250(1 + 0.0314)^2
Answered by oobleck
dang!
well, I at least knew it wasn't 314%
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