SOLUTION: Hello, I am having trouble understanding and solving this problem:
Mrs. Mitchell put a total of $10,000 into two accounts. One account earns 6% simple annual interest. The other
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-> SOLUTION: Hello, I am having trouble understanding and solving this problem:
Mrs. Mitchell put a total of $10,000 into two accounts. One account earns 6% simple annual interest. The other
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Question 983518: Hello, I am having trouble understanding and solving this problem:
Mrs. Mitchell put a total of $10,000 into two accounts. One account earns 6% simple annual interest. The other account earns 6.5% simple interest. After 1 year, the two accounts earned $632.50 interest. Find how much money was invested in each account.
-Thank you. Answer by josgarithmetic(39618) (Show Source):
You can put this solution on YOUR website! x, y, invested in each account.
x+y=10000
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0.06*x+0.065*y=632.5
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Simplify the interest sum equation:
60x+65y=63250
12x+13y=12650
(