Sa T.

asked • 12/14/20

Jacob deposited a total of $2000 with two different savings institutions.

Jacob deposited a total of $2000 with two different savings institutions. One pays interest at a rate of 4% per year, whereas the other pays interest at a rate of 10% per year. If Jacob earned a total of $140 in interest during a single year, how much did he deposit in each institution?

a) List and verbally define your variables.


b) Set-up the appropriate system of equations.




c) Solve the problem:


1 Expert Answer

By:

Jason M. answered • 12/16/20

Tutor
5 (20)

Founder & CEO of firm that generated over $15,000 in first 3 months

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