Asked by Anna
has inherited $15,000 that she wants to invest in two separate accounts, one paying 4%
and one paying 3% annual interest. If the total interest earned for a year is $550, how much
should she invest at each rate?
and one paying 3% annual interest. If the total interest earned for a year is $550, how much
should she invest at each rate?
Answers
Answered by
Reiny
amount at 4% --- x
amount at 3% --- 15000 - x
solve for x ....
.04x + .03(15000-x) = 550
amount at 3% --- 15000 - x
solve for x ....
.04x + .03(15000-x) = 550
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