SOLUTION: the total annual interest from bank accounts is $495. One account earns 6% annual interest and the other earns 7.5%. If the two accounts contain a total of $7500, how much is in t
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Question 1037947: the total annual interest from bank accounts is $495. One account earns 6% annual interest and the other earns 7.5%. If the two accounts contain a total of $7500, how much is in the account at the lower interest?
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
Let n=amount earning 7.5%. Then
.075n+.06(7500-n)=495
.075n+450-.06n=495
.015n=45
n=45/.015=$3000 invested at 7.5%, and $4500 invested at 6%!!!!!!!!!!!!!
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