SOLUTION: You deposit $2200 into three separate bank accounts that each pay 3% annual interest. How much interest does each account earn after 6 years?

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Question 1152114: You deposit $2200 into three separate bank accounts that each pay 3% annual interest. How much interest does each account earn after 6 years?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Each account earns 1/3 of the total interest
+I+=+P%2Ar%2At+
+I+=+2200%2A.03%2A6+
+I+=+396+
+%281%2F3%29%2AI+=+396%2F3+
+%281%2F3%29%2AI+=+132+
Each account earns $132 after 6 yrs