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Lakisha has a total of $8000 to invest in two accounts for 1 year. One account pays 5% simple interest and the other pays 6% simple interest. How much should she invest in each account so the total interest
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Lakisha has a total of $8000 to invest in two accounts for 1 year. One account pays 5% simple interest and the other pays 6% simple interest. How much should she invest in each account so the total interest earned is $438?

User TeNNoX
by
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1 Answer

5 votes
0.05x + 0.06y = 438
x + y = 8000

x + 1.2y = 8760
x + y = 8000

Subtract equations

0.2y = 760
y = 3800

8000-3800 = x = 4200

$4200 into 5%
$3800 into 6%
User Christian Stieber
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7.8k points
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