SOLUTION:
Mrs. Brady invests a total of $8218 in two savings accounts. One account yields 8.5% simple interest and the other 9% simple interest. She earned a total of $706.47 interest for
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Question 877129:
Mrs. Brady invests a total of $8218 in two savings accounts. One account yields 8.5% simple interest and the other 9% simple interest. She earned a total of $706.47 interest for the year. How much was invested in each account?
Answer by nerdybill(7384) (Show Source): You can put this solution on YOUR website!
Mrs. Brady invests a total of $8218 in two savings accounts. One account yields 8.5% simple interest and the other 9% simple interest. She earned a total of $706.47 interest for the year. How much was invested in each account?
Let x = amount ($) in account earning 8.5%
then
8218-x = amount ($) in account earning 9%
.
.085x + .09(8218-x) = 706.47
.085x + 739.62-.09x = 706.47
739.62-.005x = 706.47
-.005x = -33.15
x = $6630 (amount invested at 8.5%)
.
amount invested at 9%:
8218-6630 = $1588
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