SOLUTION: Joseph Abruzzio decides to divide a gift of $5000 into two different accounts. He deposits $2000 in an IRA account that earns an annual simple interest rate of 3.5%. The remaining

Question 1161815: Joseph Abruzzio decides to divide a gift of $5000 into two different accounts. He deposits $2000 in an IRA account that earns an annual simple interest rate of 3.5%. The remaining money is placed in an account that earns an annual simple interest rate of 8.25%. How much interest will Joseph earn in one year from the two accounts?
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Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
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How much, in total, is  0.035*2000 + 0.0825*(5000-2000) = 317.50 dollars.    ANSWER

More than simple.

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