SOLUTION: You invested $13000 in two accounts paying
2% and
6 %
annual interest, respectively.
If the total interest earned for the year was
$380, how much was invested at ea
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-> SOLUTION: You invested $13000 in two accounts paying
2% and
6 %
annual interest, respectively.
If the total interest earned for the year was
$380, how much was invested at ea
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Question 1132497: You invested $13000 in two accounts paying
2% and
6 %
annual interest, respectively.
If the total interest earned for the year was
$380, how much was invested at each rate? Found 2 solutions by addingup, Alan3354:Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! Let the amount invested at 2% be x
Then, the amount invested at 6% is 13000 - x
.
0.02x + 0.06(13000 - x) = 380
0.02x + 780 - 0.06x = 380
-0.04x = -400
x = -400/-0.04 = divide, remember that -/- = + so you can ignore the - sign when you divide.
This will be the amount invested at 2%. Subtract the amount from 13000 to find out the amount invested at 6%.
.
Happy learning
You can put this solution on YOUR website! "respectively" is superfluous in the statement.
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