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A woman has a total of $13,000 to invest. She invests part of the money in an account that pays 11% per year
and the rest in an account that pays 12% per year. If the interest earned in the first year is $1490
how much did she invest in each account?
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interest + interest = total interest
0.12*x + 0.11*(13000-x) = 1490 dollars
0.12x + 1430 - 0.11x = 1490
0.01x = 1490 - 1430 = 60 ====> x = = 6000.
Answer. $6000 was invested at 12%. The rest 13000-6000 = 7000 dollars were invested at 11%.
Check. 0.12*6000 + 0.11*7000 = 1490 dollars, total annual interest. ! Correct !
Solved.
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To see many other similar solved problems on investment, look into the lesson
- Using systems of equations to solve problems on investment
in this site.
You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).
Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.
The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".
Save the link to this online textbook together with its description
Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson
to your archive and use it when it is needed.
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