HELP MEEE
Jack and Sarah both open savings accounts.
Jack opens his with a starting balance o...
Mathematics, 23.04.2021 20:20 petergriffin6772
HELP MEEE
Jack and Sarah both open savings accounts.
Jack opens his with a starting balance of $1,000.00 and his bank is paying him using interest compounded annually.
Sarah opens hers with a starting balance of $1,000.00 but Sarah's bank is paying her using simple interest.
Both Jack and Sarah are receiving an interest rate of 8% annually.
If both Jack and Sarah leave their money in the bank for 5 years, what is the sum of the balances of Jack’s account and Sarah’s account?
A. $1869.33
B. $2869.33
C. $1400.00
D. $1469.33
Answers: 3
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