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Sagot :
Answer:
Principal in account A = $200
Principal in account B = $600
Account B earned more interest in the first month.
Step-by-step explanation:
Given two accounts:
Account A:
Time = 9 months = years
Interest rate = 3.8%
Interest earned = $5.70
Account B:
Time = 27 months = years
Interest rate = 2.4%
Interest earned = $32.40
To find:
Principal in each account.
Most interest earned in the first month?
Solution:
First of all, let us have a look at the formula for Simple Interest.
Putting the values for Account A and finding the value of Principal:
Now, Putting the values for Account B and finding the value of Principal:
Interest earned in one month i.e. years:
Account A:
Account B earned more interest in the first month.
Therefore, the answers are:
Principal in account A = $200
Principal in account B = $600
Account B earned more interest in the first month.
Principal in account A = $200
Principal in account B = $600
Account B earned more interest in the first month.
Step-by-step explanation:
Given two accounts:
Account A:
Time = 9 months = years
Interest rate = 3.8%
Interest earned = $5.70
Account B:
Time = 27 months = years
Interest rate = 2.4%
Interest earned = $32.40
To find:
Principal in each account.
Most interest earned in the first month?
Solution:
First of all, let us have a look at the formula for Simple Interest.
Putting the values for Account A and finding the value of Principal:
Now, Putting the values for Account B and finding the value of Principal:
Interest earned in one month i.e. years:
Account A:
Account B earned more interest in the first month.
Therefore, the answers are:
Principal in account A = $200
Principal in account B = $600
Account B earned more interest in the first month.
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