document.write( "Question 1153423: two banks pay simple interest on short-term deposits. bank a pays 5% p.a. over 3 years, and bank b pays 5.5% p.a. for 2 1/2 years. the difference between the two banks final payout figure, if $10,000 was invested in each account is:\r
\n" ); document.write( "\n" ); document.write( "a. $0
\n" ); document.write( "b. $125
\n" ); document.write( "c. $250
\n" ); document.write( "d. $1,375
\n" ); document.write( "e. $1,500
\n" ); document.write( "

Algebra.Com's Answer #775642 by MathLover1(20850)\"\" \"About 
You can put this solution on YOUR website!
Simple Interest formula:\r
\n" ); document.write( "\n" ); document.write( "\"FV++=P+%281+%2B+rY%29+\"\r
\n" ); document.write( "\n" ); document.write( "where \r
\n" ); document.write( "\n" ); document.write( "\"FV+\" = final payout
\n" ); document.write( "\"P=10000\"
\n" ); document.write( "\"r=5\"%=\"0.05\"
\n" ); document.write( "\"Y=3\" (number of years)\r
\n" ); document.write( "\n" ); document.write( "bank \"a\":\r
\n" ); document.write( "\n" ); document.write( "\"FV++=++10000%281+%2B0.05%2A3%29\"
\n" ); document.write( "\"FV++=10000%281+%2B0.15%29\"
\n" ); document.write( "\"FV++=11500\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "bank \"b\":\r
\n" ); document.write( "\n" ); document.write( "\"FV++=++10000%281+%2B0.055%2A2.5%29\"
\n" ); document.write( "\"FV++=10000%281+%2B0.1375%29\"
\n" ); document.write( "\"FV++=11375\"\r
\n" ); document.write( "\n" ); document.write( "the difference between the two banks final payout figure: $\"11500-11375=125\"\r
\n" ); document.write( "\n" ); document.write( "answer:
\n" ); document.write( "b. $\"125\"\r
\n" ); document.write( "\n" ); document.write( "
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