Parker invested $8,500, part at 6% interest compounded annually and part at 5% simple interest. After two years, he earned three times as much interest in the account paying compound interest as the account paying simple interest. Can Parker model this situation using the equation x(1 + 0.06)2 = 3(8,500 − x)(0.05)(2) where x is the initial amount in the 6% account and 8,500 − x is the amount in the 5% account? Complete the explanation. The
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side of the equation represents the total balance in the
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interest account, not just the interest. Therefore, Parker
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use this equation as a model.