Math Problem: Mr. Beast’s Giveaway – The Ultimate Financial Challenge!

Mr. Beast has partnered with CashApp to launch a one-of-a-kind financial giveaway. As part of this event, he has hidden cash rewards in interest-earning accounts to teach young people about the power of saving and investing. Participants must calculate how their winnings will grow over time to maximize their potential wealth. Here’s your chance to join the financial frenzy!

Math Word Problem

Jennifer wins \$10,000 in the giveaway and decides to split the money into two accounts. She puts \$6,000 into a savings account at Bank of America that earns 5% simple interest annually, and the remaining \$4,000 into a Chase investment account that earns 4% compound interest annually, compounded yearly.

Jennifer plans to leave the money in both accounts for 3 years.

Question: How much total interest will Jennifer earn from both accounts after 3 years?

Options:
A) $1,544.56
B) $1,712.34
C) $1,399.46
D) $1,689.21

Explore more problems on this topic at Simple and Compound Interest or sign up on LearnTheta’s AI-Powered Practice Platform.