Question 1140104: Fatuma invests a total of $15,500 in two accounts paying 9% and 2% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $660.00.
Answer by dkppathak(439)   (Show Source):
You can put this solution on YOUR website! Fatuma invests a total of $15,500 in two accounts paying 9% and 2% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $660.00.
solution
let amounts are x and 15500-x
interest are 0.09x and 0.
02(15500-x)
as per condition
0.09x+0.02(15500-x)=660
0.09x-0.02x+310=660
0.07x=660-310
0.07x=350
x=350/0.07=5000
and other is 15500-5000=10500
answer $5000 at the rate of 9% and $10500 at 2%
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