Cameron has decided to diversify his investments in the following way:$3,000 in an account earning 2.7% simple interest$5,000 in a savings account earning 1.8% interest compounded annually$5,000 in a certificate of deposit earning 3.9% interest compounded quarterlyHow much total interest will Cameron earn on his investments at the end of 3 years?

For the simple-interest account, Cameron earns $3,000 × 0.027 × 3 = $243. The savings account earns $5,000[(1.018)^3 − 1] ≈ $274.89, and the quarterly-compounded CD earns $5,000[(1 + 0.039/4)^12 − 1] ≈ $617.41. Adding the interest gives $243 + $274.89 + $617.41 = $1,135.30, so the correct choice is $1,135.30.

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