<PRE><B>Question 908425</B>
how much simple interest is earned in one year from two accounts bearing 4% and 6% respectively? the first contains $3000 and the second $2500.
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Simple Interest Formula:: A(t) = P(1+rt)
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1st Account:: A(1) = 3000(1+0.04*1) = 3000(1.04) = $3120
Interest = 120
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2nd Account:: A(1) = 2500(1+0.06*1) = 2500(1.06) = $2650
interest = $150
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Cheers,
Stan H.
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