Mathematics, 30.04.2021 21:40 quintink
Tim deposits $4,000 into each of two savings accounts.
• Account I earns 3% annual simple interest.
• Account II earns 3% interest compounded annually.
Tim does not make any additional deposits or withdrawals. What is the sum of the balances of Account I and Account II at the end of 2 years?
$8,480
$8,480
$8,483.60
$8,483.60
$8,487.20
$8,487.20
$8,240
Answers: 3
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Tim deposits $4,000 into each of two savings accounts.
• Account I earns 3% annual simple interest...
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