Answer to Question #47556 in Finance for Felisia Fitri Anita Aritonang

Question

Mother Zeta has two types of deposits. Deposits of both the magnitude of the first two deposits. The first deposit rate 10% p.a. and 12% second deposit. If the total interest earned from the two deposits of Rp 33.4 million a year, how much of each deposit?

Answer 1

A time deposit is a money deposit at a banking institution that cannot be withdrawn for a certain "term" or period of time (unless a penalty is paid).
The formula of simple interest is:
FV = PV*(1 + i*t), I = PV*i, where PV - initial sum, i - interest rate, t - number of periods, interest earned.
In our case:
I1*0.1 + PV2*0.12 = 33.4
I1 = 334 - 10*PV2
If the initial sums of deposits are different, there is not enough information to calculate them.