Question

On May 1 Geraldo Saldana opened a savings account that paid 3.5 percent
interest at Fulton Savings Bank with a deposit of $3,600. Ten days later he
deposited $3,000. Fourteen days later he deposited $5,000. No other deposits
or withdrawals were made. Six days later the bank calculated the daily interest.

Answer 1

Based on the amounts that Geraldo Saldana deposited in the month of May, the total simple interest comes to $18.98.

what amount of simple interest does Geraldo Saldana get?

the simple interest earned can be found as:

= (3,600 x 3.5%/360 days x 30 days) + (3,000 x 3.5%/360 days x 20 days) x (5,000 x 3.5%/360 days x 6 days)

= 10.5 + 5.83 + 2.65

= $18.98

rest of the question is:

How much simple interest did his money earn?

find out more on simple interest at https://brainly.com/question/20690803.

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