Gabriel deposits $2,500 into each two savings accounts, account 1 earns 4% simple interest, account 2 earns 4% compound interest annually . Gabriel does not make any additional deposits or withdrawals. What is the sum of the balances of account 1 and account 2 at the end of 3 years?

See the answers below

Step-by-step explanation:

Given data

Account 1 SImple interest

P= $2500

R=4%

T= 3 years

A=P(1+rt)

A=2500(1+0.04*3)

A=2500(1+0.12)

A=2500*1.12

A= $2800

Account 2 compound interest

P= $2500

R=4%

T= 3 years

A= P(1+r)^t

A=2500(1+0.04)^3

A=2500(1.04)^3

A=2500*1.124864

A= $2812.16

$9.41

step-by-step explanation:

b

step-by-step explanation: