Cameron has decided to diversify his investments in the following way: $3,000 in an account earning 2.7% simple interest $5,000 in a savings account earning 1.8% interest compounded annually $5,000 in a certificate of deposit earning 3.9% interest compounded quarterly how much total interest will cameron earn on his investments at the end of 3 years? a. $530.87 b. $665.57 c. $973.30 d. $1,135.30

The correct option is d.

Step-by-step explanation:

Cameron has decided to diversify his investments in the following way:

1. $3,000 in an account earning 2.7% simple interest.

Formula for simple interest:

Where, P is principle, r is rate of interest and t is time.

2. $5,000 in a savings account earning 1.8% interest compounded annually.

Formula for compound interest:

Where, P is principle, r is rate of interest, n is number of periods in a year and t is time.

3. $5,000 in a certificate of deposit earning 3.9% interest compounded quarterly.

The total interest Cameron will earn on his investments at the end of 3 years is

Therefore the correct option is d.

p> q if you calculate p is100 q is 79