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 214%214% 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?
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 214%214% 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?
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 64SE: You inherit one hundred thousand dollars. You invest it all in three accounts for one year. The...
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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 214%214% 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?
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