SOLUTION: Mrs. Ming invested an amount of money in two accounts for one year. She invested some at 8% interest and the rest at 6% interest. Her total amount invested was $1500. At the end of
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Question 799456: Mrs. Ming invested an amount of money in two accounts for one year. She invested some at 8% interest and the rest at 6% interest. Her total amount invested was $1500. At the end of the year, she had earned $106.40 in interest. How much had Mrs. Ming invested in the account paying 6%? Answer by solver91311(24713) (Show Source):
is total amount invested. is one interest rate, and is the other interest rate, both expressed as decimals. is the amount invested at the rate, and is the amount invested at the rate. And is the total interest earned.
Hence
then since
we can write
Substitute your values for , , , and and then solve for .
Finally, calculate to find
John
Egw to Beta kai to Sigma
My calculator said it, I believe it, that settles it
