Michael is going to invest $15,000 into two savings accounts to save money to buy a house. Bank of Texas account will earn 6.75% in simple interest.
United Texas Bank will earn 8% in simple interest.
What is the sum of the interest the two accounts will earn at the end of 5 years?

Bank of Texas = $10,031.35

United Texas Bank = $10,500.00

Step-by-step explanation:

Bank of Texas

A=P(1+rt)

P=$7,500

r=6.75%

t=5 years

$10,031.35

refer the pic

United Texas Bank

A=P(1+rt)

P=$7,500

r=8%

t=5 years

$10,500.00

refer the sec pic

s

step-by-step explanation:

see explanation

step-by-step explanation:

a

(6r + 7) + (13 + 7r) ( remove brackets and collect like terms )

= 6r + 7 + 13 + 7r

= 13r + 20

b

remove brackets and collect like terms

13 - r - 1 + r

= 12 - r

c

remove brackets and collect like terms

= - 8 - r + 2r - 4

= - 12 + r

d

remove brackets and collect like terms

= 7r - - - 6r

[-   - = - - = - ]

= r -