Question

Please help I am stuck on this question

You have 2 different savings accounts. For Account​ A, the simple interest earned after 21 months is ​$11.55. For Account​ B, the simple interest earned after 15 months is ​$12.00. If the interest rate is 3.3​% for Account A and 2.4​% for Account​ B, how much is the principal in each​ account? Which account earned you the most interest the first​ month? Explain your answer.

Answer 1

Answer:

PRINCPAL = A 3.33  B 4.76  

Account B had earned more interest month 1 = $0.80

Step-by-step explanation:

LCM of 21 and 15 = 105

Account A. = 21 months is ​$11.55 interest

Account B = 15 months is $12.00 interest

Account A = given 3.3% =  11.55 / 0.033 = 350 then 350/105 = 3.3333 = 3.33

Account B = given 2.4% = 12/ 0.024 = 500 then 500/105 = 4.76109 = 4.76

FIRST MONTH = 1 PART WORKINGS

Account A = 11,55/ 21 = $0.55

Account B = 12/15 = $0.80