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2 February, 04:25

Sal Boxer decided to divide a gift of $5000 into two different accounts. He placed $1000 in an account that earns an annual simple interest rate of 8.5%. The remaining money was placed in an account that earns an annual simple interest rate of 9.25%. How much interest will Sal earn from the two accounts after one year?

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  1. 2 February, 06:37
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    He will earn $455 of interest in one year

    because 1000 x 8.5% = 85

    and 4000 x 9.25% = 370

    85 + 370 = 455
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Home » Mathematics » Sal Boxer decided to divide a gift of $5000 into two different accounts. He placed $1000 in an account that earns an annual simple interest rate of 8.5%. The remaining money was placed in an account that earns an annual simple interest rate of 9.25%.
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