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jhick9279
31.01.2020 •
Mathematics
Greg invests $2,680 in a cd paying 7.0% interest, and $3,060 in an online savings account paying 4.5% interest. how much more interest will the cd have earned than the savings account after 1 year? a. $25.90 b. $49.90 c. $380.00 d. $499.00
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Ответ:
B.) is the correct answer I just took the test
Ответ:
Let us assume the interest to be a simple interest.
S.I =![\frac{p*r*t}{100}](/tpl/images/0489/6704/fecf1.png)
Amount invested in CD = 2680
Interest rate = 7% or 0.07
Time = 1 year
So simple interest earned =![2680*0.07*1=187.60](/tpl/images/0489/6704/be0a6.png)
Amount invested in online savings account = 3060
Rate of interest = 4.5% or 0.045
Interest earned =![3060*0.045*1=137.70](/tpl/images/0489/6704/e7adc.png)
Hence, the difference between both the interests earned =
Hence, option B = $49.90 is the correct answer.
The CD has earned $49.90 more than online savings account.
Ответ:
so the length would be 6 and the width would be (3+x)