Vanessa deposits $24,000 into each of two savings accounts.

Account I earns 2.4% interest compounded annually.
Account II earns 2.4% annual simple interest.
There are no additional deposits or withdrawals.
What is the sum of the balances of these accounts at the end of 5 years?

$53,760.00

$53,901.59

$54,043.20

$56,640.00 best gets brainlyies

Question

01-02-2021
Advanced Placement (AP)

Answered

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Vanessa deposits $24,000 into each of two savings accounts.

Account I earns 2.4% interest compounded annually.
Account II earns 2.4% annual simple interest.
There are no additional deposits or withdrawals.
What is the sum of the balances of these accounts at the end of 5 years?

$53,760.00

$53,901.59

$54,043.20

$56,640.00 best gets brainlyies

Sagot :

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