Evan has $4,600 to deposit into two savings accounts. • Evan will deposit $2,000 into Account I, which earns 5% interest, compounded annually. • Evan will deposit $2,600 into Account II, which earns 4% annual simple interest. In 3 years, which account will produce more interest, and by how much? A Account I, by $3.25 B Account II, by $24.65 C Account I, by $9.45 D Account II, by $12.00

Evan has $4,600 to deposit into two savings accounts. • Evan will deposit $2,000 into Account I, which earns 5% interest, compounded annually. • Evan will deposit $2,600 into Account II, which earns 4% annual simple interest. In 3 years, which account will produce more interest, and by how much? A Account I, by $3.25 B Account II, by $24.65 C Account I, by $9.45 D Account II, by $12.00

Name: Evan has $4,600 to deposit into two savings accounts.• Evan will depo
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Description: Evan has $4,600 to deposit into two savings accounts.• Evan will deposit $2,000 into Account I, which earns 5% interest, compoundedannually.• Evan will deposit $2,600 into Account II, which earns 4% annual simple interest.In 3 years, which account w

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

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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You inherit one hundred thousand dollars. You invest it all in three accounts for one year. The first account pays 4% compounded annually, the second account pays 3% compounded annually, and the third account pays 2% compounded annually. After one year, you earn $3,650 in interest. If you invest five times the money in the account that pays 4% compared to 3%, how much did you invest in each account?
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