Mathematics, 23.04.2021 20:20 petergriffin6772

HELP MEEE Jack and Sarah both open savings accounts.
Jack opens his with a starting balance of $1,000.00 and his bank is paying him using interest compounded annually.
Sarah opens hers with a starting balance of $1,000.00 but Sarah's bank is paying her using simple interest.
Both Jack and Sarah are receiving an interest rate of 8% annually.
If both Jack and Sarah leave their money in the bank for 5 years, what is the sum of the balances of Jack’s account and Sarah’s account?

A. $1869.33

B. $2869.33

C. $1400.00

D. $1469.33

Answers: 3

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HELP MEEE Jack and Sarah both open savings accounts.
Jack opens his with a starting balance o...