SOLUTION: You invested a total of $20,000 at 3% and
4 1/2% simple interest. During one year, the two accounts earned $825. How much did you invest in each account?
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-> SOLUTION: You invested a total of $20,000 at 3% and
4 1/2% simple interest. During one year, the two accounts earned $825. How much did you invest in each account?
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Question 838385: You invested a total of $20,000 at 3% and
4 1/2% simple interest. During one year, the two accounts earned $825. How much did you invest in each account? Answer by ewatrrr(24785) (Show Source):
Hi,
Set Up
Let x represent the amount at 4 1/2% simple interest
.045x + .03($20,000-x) = 825
x = 225/.015, the amount at 4 1/2% simple interest
Subtract from $20,000 to find amount at 3%
