Hi I've searched the forum for htis question but it didn't show up. It deals with Ann depositing money into two simple interest earning accounts, A and B.
I answered incorrectly. Upon review, I think that just answer A would be enough but I don't understand why the correct answer is both are needed. My logic: If she deposited $100 into acct A and $300 into acct B (sample numbers based on fact 1), and you know the interests each account earns, B being greater than A, then wouldn't it be easy to find the interest difference between the two? It would be $4 . (8% of $300 = $24 and 5% of 100 = $20)
Why do we still need fact 2? We can still figure out the difference and that's all the question asks for.... Fact 2 adds some info about total interest but it's not absolutely necessary to find a difference.
I answered incorrectly. Upon review, I think that just answer A would be enough but I don't understand why the correct answer is both are needed. My logic: If she deposited $100 into acct A and $300 into acct B (sample numbers based on fact 1), and you know the interests each account earns, B being greater than A, then wouldn't it be easy to find the interest difference between the two? It would be $4 . (8% of $300 = $24 and 5% of 100 = $20)
Why do we still need fact 2? We can still figure out the difference and that's all the question asks for.... Fact 2 adds some info about total interest but it's not absolutely necessary to find a difference.
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