For the problem I see posted here already that reads – ” A woman has two bank accounts. One contains $329 and awards 4% in interest each mon

Question

For the problem I see posted here already that reads – ” A woman has two bank accounts. One contains $329 and awards 4% in interest each month. The other contains $921 and awards 7% in interest each month. What will the combined value of her two accounts be at the end of the month?” I see the answer but what formula did you use to solve this problem??????? It’ll help me better understand. Thanks!

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Cherry 5 months 2021-09-01T03:39:53+00:00 1 Answers 0 views 0

Answers ( )

  1. phucdien
    0
    2021-09-01T03:41:08+00:00
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    Answer:

    $1327.63

    Step-by-step explanation:

    :First, calculate the amount of interest that will be earned on the first account:

    $329 * 0.04 = $13.16

    Then, add this amount to the amount that was already in the account:

    $13.16 + $329 = $342.16

    Next, calculate the amount of interest that will be earned on the second account:

    $921 * 0.07 = $64.47

    Then, add this amount to the amount that was already in the account:

    $64.47 + $921 = $985.47

    Finally, add the two totals together: $342.16 + $985.47 = $1327.63.

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