contestada

.
you invested $
7000
7000
between two accounts payin 
6
%
6
%
and 
8
%
8
%
annual interet, respectively. if the total interest earned for the year was $
480
,
480
,
how much was invested at each rate

Respuesta :

sqdancefan

9514 1404 393

Answer:

  • $3000 at 8%
  • $4000 at 6%

Step-by-step explanation:

Let x represent the amount invested at 8%. Then the total interest earned is ...

  0.06(7000 -x) +0.08x = 480

  420 +0.02x = 480 . . . . . . . . . eliminate parentheses

  0.02x = 60 . . . . . . . . . . subtract 420

  x = 60/0.02 = 3000 . . . . . divide by the coefficient of x

$3000 was invested at 8%; $4000 was invested at 6%.

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