Titus S.
asked • 09/13/22Problem solving and business applications
You invested $7000 between two accounts paying 5% and 7% annual interest, respectively. If the total interest earned for the year was $410, how much was invested at each rate?
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1 Expert Answer
Peter R. is correct...but I will give you some clues.
This problem will require 2 simultaneous equations in two unknowns, say x and y,
where x+y=7000.
If between your search and this answer you still cannot solve the problem, please comment so that I can help further.
Titus S.
How much was invested at 5% and at 7%?
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09/13/22
Paul M.
tutor
It is not my job to solve problems for you; Peter R. & I have given you help to answer the question. You should solve it for yourself and ask a specific question if you have difficulty. I will review YOUR answer if you ask.
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09/14/22
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Inactive Tutor
This problem type comes up often in Ask an Expert. Did you search the data base to find a similar example that you could follow to solve this one?09/13/22