SOLUTION: A dentist invested a portion of $15,000 in a 7% annual simple interest account and the remainder in a 6.5% annual simple interest government bond. The two investments earn $1020 i
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Question 43682This question is from textbook Beginning Algebra with Applications
: A dentist invested a portion of $15,000 in a 7% annual simple interest account and the remainder in a 6.5% annual simple interest government bond. The two investments earn $1020 in interest annually. How much was invested in each account?
This question is from textbook Beginning Algebra with Applications
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.07X+.065(15000-X)=1020 OR .07X+975-.065X=1020 OR .005X=1020-975 OR .005X=45 OR
X=45/.005 OR X=9000 INVESTED @ 7% & 15000-9000=6000 INVESTED @ 6.5%
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