Question 1017308: Samantha invests a total of $33,500 in two accounts paying 13% and 7% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $3,455.00.
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! Samantha invests a total of $33,500 in two accounts paying 13% and 7% simple interest, respectively.
How much was invested in each account if, after one year, the total interest was $3,455.00.
:
let x - amt invested at 13%
The total amt invested was 33500, therefore
(33500 - x) = amt invested at 7%
:
.13x + .07(33500-x) = 3455
.13x + 2345 - .07x = 3455
.13x - .07x = 3455 - 2345
.06x = 1110
x = 1110/.06
x = $18,500 invested a 13%
:
Find how much invested at 7%
33500 - 18500= $15,000 invested at 7%
:
:
Check this find the sum actual interest from each investment
.13(18500) = 2405
.07(15000) = 1050
------------------
total int: 3455
|
|
|
