I need Question 1,2 and 3 Joanna has $1,500 to put into one of two savings accounts. The first pays 5.6% simple interest each year. The second pays 4.8% annual interest compounded monthly.  Use a TVM Solver is necessary.    Write an equation to model the balance of the first account after any number of years (t).      2. How much money will she have after 15 years in the first account?      3.How many years until Joanna would have $3,500 in the first account?

Question

 I need Question 1,2 and 3

Joanna has $1,500 to put into one of two savings accounts. The first pays 5.6% simple interest each year. The second pays 4.8% annual interest compounded monthly.  Use a TVM Solver is necessary.

  

  1. Write an equation to model the balance of the first account after any number of years (t).

  

 

2. How much money will she have after 15 years in the first account?

  

 

3.How many years until Joanna would have $3,500 in the first account?

 

 

4. Write an equation to model the balance of the second account after any number of years (t).

  

 

5.How much money will she have after 15 years in the second account?

 

 

6.How many years until Joanna would have $3,500 in the second account?

 

7.Which account would you recommend for Joanna?  Explain your answer.

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