SOLUTION: You wish to invest $130,000 in two accounts. You want a cautious investment strategy, so you intend to invest in an account with a rate of 3.3% and another with a rate of 9.3%. Wit

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Question 456116: You wish to invest $130,000 in two accounts. You want a cautious investment strategy, so you intend to invest in an account with a rate of 3.3% and another with a rate of 9.3%. With this strategy, at the end of one year, you want to earn $6,006.00. How much should you invest in each account?
You should invest
$ ? in the 3.3% account
and
$ ? in the 9.3% account.
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
m+n=130000
.033m+.093n=6006
33m+93n=6006000
33m+33n=4290000
60n=1716000
n=28600
m=101400
You need to invest $101,400 at 3.3% and $28,600 at 9.3%..