SOLUTION: you invested $15,000 in two accounts paying 2% and 4% annual interest, respectively. If the total interest earned for the year was $520, how much was invested at each rate?
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Question 648455: you invested $15,000 in two accounts paying 2% and 4% annual interest, respectively. If the total interest earned for the year was $520, how much was invested at each rate?
The amount invested at 2% ?
The amount invested at 4% ? Answer by Alan3354(69443) (Show Source):
You can put this solution on YOUR website! you invested $15,000 in two accounts paying 2% and 4% annual interest, respectively. If the total interest earned for the year was $520, how much was invested at each rate?
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t = amount @ 2%
f = amount @ 5%
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t + f = 15000
0.02t + 0.05f = 520
Solve for t & f
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PS "respectively" contributes nothing
