Soha A.

asked • 10/18/17

Sal Boxer decided to divide a gift of $5000 into two different accounts. He placed $1000 in one account that earns an annual simple interest rate of 6.5%. The r

help me pleasee im so confused

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Kenneth S. answered • 10/18/17

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Agreed, you are confused, and you have not stated the entire question. Rewrite!
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Soha A.

Sal Boxer decided to divide a gift of $5000 into two different accounts. He placed $1000 in one account that earns an annual simple interest rate of 6.5%. The remaining money was placed in an account that earns an annual simple interest rate of 7.75%. How much interest will Sal earn from the two accounts after 1 year?
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10/18/17

Kenneth S.

OKAY (now). Sal Boxer decided to divide a gift of $5000 into two different accounts. He placed $1000 in one account that earns an annual simple interest rate of 6.5%. The remaining money was placed in an account that earns an annual simple interest rate of 7.75%. How much interest will Sal earn from the two accounts after 1 year?
 
Interest on the separated $1000 is 0.065 times $1,000, or $65.
Interest on the remaining money is 0.07775 times $4,000, or $310.  Just add these two interest figures together.
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10/19/17

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