Jackie invested $12,000 in a certificate of deposit at 6%. She also put $3,000 in a savings account at 3%. How much interest will she earn after one year?
1 Answer
Feb 18, 2018
Explanation:
Because the time is only for one year, it does not matter whether you use simple or compound interest
Calculate the interest on each account separately
(The question I would ask is why she would not have all her money invested at the higher rate?)