SOLUTION: I am still not able to figure this one out. Can someone show me step by step how to get the answer since I have a page of these to do. Thank you.
Holly White invested $8000 in t
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-> SOLUTION: I am still not able to figure this one out. Can someone show me step by step how to get the answer since I have a page of these to do. Thank you.
Holly White invested $8000 in t
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Question 870406: I am still not able to figure this one out. Can someone show me step by step how to get the answer since I have a page of these to do. Thank you.
Holly White invested $8000 in two bank accounts. One account pays 3% simple interest, and the other pays 2% simple interest. If she earns $235 annually in interest from the two accounts. how much did she originally invest at 2%?
A. $500
B. $1500
C. $3000
D. $4500' Answer by rothauserc(4718) (Show Source):
You can put this solution on YOUR website! we set up two equation, let x be the amount invested at 3% and y at 2%, then
x + y = 8000
.03x + .02y = 235
solve first equation for x
x = 8000 - y
now substitute for x in second equation
.03(8000 - y) + .02y = 235
240 - .03y + .02y = 235
-.01y = -5
.01y = 5
y = 5/.01 = $500
the answer is A
