teddyxbear
contestada

Sue deposited $2,500 into two different accounts.

- She deposited $1,700 into an account that pays 4.5% simple interest.

- She deposited $800 into an account that pays 6% compounded annually.

If Sue does not deposit additional money into the accounts and she doesn't withdraw any money from the accounts, What is the closest sum of the balances she will have in the two accounts at the end of 5 years?
will markbrainliest

Respuesta :

devishri1977

Answer:

$ 3153

Step-by-step explanation:

Simple Interest:

P = $ 1700

R = 4.5%

T = 5 years

SI = PRT

   = 1700 * [tex]\frac{4.5}{100}[/tex] * 5

  = 17 * 4.5 * 5

  = $ 382.50

Amount = P +SI = 1700 + 382.50

Amount = $ 2082.50

Compound interest:

P = $ 800

R = 6%

T = 5 years

[tex]A=P*[\frac{(100+R)}{100}]^{T}\\\\=800 * [\frac{106}{100}}]^{5}\\\\=800 * [1.06]^{5}\\\\= 1070.58[/tex]

Balance at end of 5 years = 2082.50 + 1070.58

                                           = $ 3153.08

                                           = $ 3153

lilamayjunebug18
Hello!
The answer would be $3153
Hope this helps