22. You place $4,000.00 in a bank account with an interest rate of 5.25% APR and another $2,000.00 in an account with an interest rate of 6.00% APR. a. How much interest will be earned for each account on the original principal in 6 months? b. What is the difference in the amount of interest earned? c. Which account has your money working for you the best? Be sure to include in your response: • the steps you followed to complete your computations • the final answers to each question • the mathematical reasoning for the answer to "c"

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
icon
Related questions
Question

No Plagirism Please!

22. You place $4,000.00 in a bank account with an interest rate of 5.25% APR and another $2,000.00 in an
account with an interest rate of 6.00% APR.
a. How much interest will be earned for each account on the original principal in 6 months?
b. What is the difference in the amount of interest earned?
c. Which account has your money working for you the best?
Be sure to include in your response:
• the steps you followed to complete your computations
• the final answers to each question
• the mathematical reasoning for the answer to "c"
Transcribed Image Text:22. You place $4,000.00 in a bank account with an interest rate of 5.25% APR and another $2,000.00 in an account with an interest rate of 6.00% APR. a. How much interest will be earned for each account on the original principal in 6 months? b. What is the difference in the amount of interest earned? c. Which account has your money working for you the best? Be sure to include in your response: • the steps you followed to complete your computations • the final answers to each question • the mathematical reasoning for the answer to "c"
21. Complete the following transactions and explain how they would appear in your register.
You open your bank account on April 16 with a tax refund check of $145.00.
You pay Sell UPhone $65.34 on April 18. (Check 794)
You deposit your paycheck on April 23, ($9.76/hour for 35 hours)
• You buy $61.32 (4% sales tax not included) in clothes from BargainsRUs on April 24 using your
debit card.
Be sure to include in your response:
the steps you followed to complete your computations
the balance as of April 24
the process for entering the transaction in the registry
Transcribed Image Text:21. Complete the following transactions and explain how they would appear in your register. You open your bank account on April 16 with a tax refund check of $145.00. You pay Sell UPhone $65.34 on April 18. (Check 794) You deposit your paycheck on April 23, ($9.76/hour for 35 hours) • You buy $61.32 (4% sales tax not included) in clothes from BargainsRUs on April 24 using your debit card. Be sure to include in your response: the steps you followed to complete your computations the balance as of April 24 the process for entering the transaction in the registry
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education