You invested $ 7000 between two accounts paying 2 % and 6 % annual interest, respectively. if the total interest earned for the year was $ 300 comma how much was invested at each rate?

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asked Mar 17, 2019 159k views

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You invested $ 7000 between two accounts paying 2 % and 6 % annual interest, respectively. if the total interest earned for the year was $ 300 comma how much was invested at each rate?

Business
high-school

Sergey Ivanov asked

by Sergey Ivanov

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1 Answer

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0.02x+0.06 (7000-x)=300
Solve for x
X=3000 invested at 2%

7000-3000=4000 invested at 6%

Nick Krasnov answered Mar 24, 2019

by Nick Krasnov

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