Gia opened two savings accounts at two different banks. One account earns an annual 3.4% simple interest, and the other earns half as much. If she deposited $500 in each account, how much total interest will she have earned in 2 years?

A.

$51.00

B.

$34.00

C.

$102.00

D.

$510.00

To find the interest earned the formula is

I=prt

I interest earned?

P principle

R interest rate

T time

The interest earned of the first account is

I=500*0.034*2=34

The interest earned of the second account is

I=500 * (0.034:2) * 2=17

Total interest of both accounts is

I=34+17=51

So the answer is 51