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"
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,...
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No Plagirism Please!
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"
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
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