AIR MATH

Math Question

Nicolas has \( \$ 650 \) to deposit into two different savings accounts.
- Nicalas will deposit \( \$ 400 \) into Account I, which earns \( 3.5 \% \) annual simple interest.
- He will deposit \( \$ 250 \) into Accaunt II, which earns \( 3 \frac{1}{4} \% \) interest compounded annually.
Nicolas will not make any additional deposits or withdrawals. Which amount is closest to the total balance of these two accounts at the end of 2 years?
A \( \$ 672.13 \)
B \( \$ 695.00 \)
C. \( \$ 694.25 \)
D \( \$ 694.51 \)

Solution

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