SOLUTION: you invested a total of $25000 at 3% and 4 1/2% simple interest. During one year, the two accounts earned $9000 . How much did you invest in each account?
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Question 945410: you invested a total of $25000 at 3% and 4 1/2% simple interest. During one year, the two accounts earned $9000 . How much did you invest in each account? Found 2 solutions by vleith, macston:Answer by vleith(2983) (Show Source):
You can put this solution on YOUR website! Let the amount you invest at 4.5% be x. Then the amount invested at 3% is
You are told
Solve for x
Solving for x gives a number greater than 25000. So the answer is "you can't do that".
To verify that, imagine you invested the entire 25000 at the higher rate of 4.5%. How much will that return in a simple interest year? $1125 which is nowhere near 9000.
Did you have a typo maybe?? Perhaps 900??
You can put this solution on YOUR website! This problem has no possible solution as given. $9000 interest on $25000 would be 36%, much higher than the given rates. At the highest given rate(4.5%), $200000 must be invested to earn $9000. Please check your numbers and re-post.