SOLUTION: Equal amounts are invested in two accounts paying 4% and 5% interest annually. If one year's combined interest income is $324, how much is invested in each acount? And what would

SOLUTION: Equal amounts are invested in two accounts paying 4% and 5% interest annually. If one year's combined interest income is $324, how much is invested in each acount? And what would

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Question 275900: Equal amounts are invested in two accounts paying 4% and 5% interest annually. If one year's combined interest income is $324, how much is invested in each acount? And what would the equation be?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

Let

represent the amount invested at 4%. Since the amounts are equal,

also represents the amount invested at 5%. The amount of interest paid in 1 year at 4% is

. And the amount of interest paid on the 5% money in 1 year is

. The sum of these two amounts is $324, so:

Just solve for

.

John

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