SOLUTION: Please help me solve this problem: You invested a total of $10,000 at 4 1/2% and 5% simple interest. During one year, the two accounts earned $480. How much did you invest in each
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Question 1065997: Please help me solve this problem: You invested a total of $10,000 at 4 1/2% and 5% simple interest. During one year, the two accounts earned $480. How much did you invest in each account? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x at 4.5%
10000-x @5%
.045 x+ 0.05(10000-x)=480
.045x+500-0.05x=480
-.005x=-20
Multiply both sides by -200 or divide both by -0.005
x=4000@0.045=$180
10000-x=$6000@5%=$300.
They add to $480.
