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Dakota or nine dollars in interest in account A and $22.50 in interest in account B after 18 months. If the simple interest rate is 3% for account eight and 5% for account B which account has the greater principle

Sagot :

Dzharvey00idn

Answer:

I'll setup the problem and you can do the computation

Step-by-step explanation:

The formula for future value or principle using simple interest;

FV = P(1 + rt)

FV = future principle

P = deposit

r = interest rate per period (year)

t = number of periods

For A account:

P = 9

r = 0.03

t = 1.5

For B account

P = 22.50

r = 0.05

t = 1.5

you can plug in the numbers for each account and see which is greater

If you have questions, send me a comment 

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