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keisha has a total of $6000 to invest in two accounts for one year. one account pays 5% simple interest and the other pays 6% simple interest. how much should she invest in each account so that the total interest earned is $335?

User Leo Messi
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1 Answer

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Answer is $2500 and $3500

Keisha's total investment = $6000

Let the number of dollars invested in 5% simple interest be $x; and

let the number of dollars invested in 6% simple interest be $(6000 - x).

Now, we know the formula for interest:

Interest = Principal * Rate * time

where Principal is the amount of money before interest and * shows multiplication.

Interest from 5% account = x * 0.05 * 1 = 0.05x

Interest from 6% account = (6000 - x) (0.06) (1) = 0.06 (6000 - x)

Total interest would be:

0.05x + 0.06 (6000 - x) = 335

0.05x + 360 - 0.06 = 335

x = $2500 --> number of dollars invested in 5% interest account

therefore,

6000 - x = $3500 --> number of dollars invested in 6% interest account

User Renzo Tissoni
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