SOLUTION: Mitchell invested part of his $13,000 advance at 5% annual simple interest and the rest at 9% annual simple interest. If his total yearly interest from both accounts was $930̴
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-> SOLUTION: Mitchell invested part of his $13,000 advance at 5% annual simple interest and the rest at 9% annual simple interest. If his total yearly interest from both accounts was $930̴
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Question 1080732: Mitchell invested part of his $13,000 advance at 5% annual simple interest and the rest at 9% annual simple interest. If his total yearly interest from both accounts was $930, find the amount invested at each rate.
What is the amount invested at 5%?
What is the amount invested at 9%? Found 2 solutions by Fombitz, MathTherapy:Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! - amount invested at 5% - amount invested at 9%
1.
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2.
Multiple eq. 1 by 5 and subtract from eq. 2,
Solve for A then use either equation to solve for B.
You can put this solution on YOUR website! Mitchell invested part of his $13,000 advance at 5% annual simple interest and the rest at 9% annual simple interest. If his total yearly interest from both accounts was $930, find the amount invested at each rate.
What is the amount invested at 5%?
What is the amount invested at 9%?
