SOLUTION: 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
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Question 1148691: 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 by ikleyn(52776) (Show Source):
