SOLUTION: You invested $11,000 in two accounts paying 5% and 8% annual interest. If the total interest earned for the year was $730, how much was invested at each rate?

SOLUTION: You invested $11,000 in two accounts paying 5% and 8% annual interest. If the total interest earned for the year was $730, how much was invested at each rate?

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Question 398774: You invested $11,000 in two accounts paying 5% and 8% annual interest. If the total interest earned for the year was $730, how much was invested at each rate?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
0.05x+0.08(11000-x)=730
0.05x+880-0.08x=730
-0.03x=-150
x=5000 at 5%
11000-x=6000 at 8%
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