You invested $28,000 in two accounts paying 2% and 7% annual interest, respectively. If the total interest earned for the year was $1310, how much was invested at each rate ?

Question

Patrick B. · Accepted Answer

28000 = x + y0.02X + 0.07Y = 13100.02X + 0.07 ( 28000 - x) = 13102x + 7( 28000 - x) = 1310002x + 196000 - 7x = 131000-5x = -65000  x = 13000y = 15000

You invested $28,000 in two accounts paying 2% and 7% annual interest, respectively. If the total interest earned for the year was $1310, how much was invested at each rate ?

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You invested $28,000 in two accounts paying 2% and 7% annual interest, respectively. If the total interest earned for the year was $1310, how much was invested at each rate ?

1 Expert Answer

Still looking for help? Get the right answer, fast.

OR

RELATED TOPICS

RELATED QUESTIONS

graph, find x and y intercepts and test for symmetry x=y^3

-2x/x+6+5=-x/x+6

Find the mean and standard deviation for the random variable x given the following distribution

using interval notation to show intervals of increasing and decreasing and postive and negative

trouble spots for the domain may occur where the denominator is ? or where the expression under a square root symbol is negative

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