11-03-2021
Mathematics

contestada

Dakota earned $11.25 in interest in Account A and $25.00 in interest in Account B after 15 months. If the simple interest rate is 3% for Account A and 5% for Account B, which account has the greater principal? Explain.
Which account has the greater principal? Select the correct answer below and fill in the answer boxes to complete your choice.

Respuesta :

11-03-2021

Answer:

Step-by-step explanation:

I=Prt

11.25=A(0.03)(15/12)

11.25=A(0.0375)

A=11.25/(0.0375)

A=$300

25=B(0.05)(15/12)

25=B(0.0625)

B=25/(0.0625)

B=$400

So account B has the greater principal.

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