wahtst the answer

Question

Smith invested $25,000 in two accounts, one yielding 8 % interest and the other yielding 11 %. If she received a total of $2,600 in interest at the end of the year, how much did she invest in each account?hel

Answer 1

How often is the interest compounded?

Is it annually, monthly, quarterly, or

semi-annually?

 

If the interest is annual...

We invest $x at 8% and ($25000-x) at 11%

 

2600 = .08x + .11(25000-x)

 

2600 = .08x - .11x + 2750

- 150 = -.03x

x = -150/(-.03) = $5000 invested at 8%

Leaving $20,000 invested at 11%