Question

David invests $7000 in two different accounts. The first account paid 4 %, the second account paid 8 % in

interest. At the end of the first year he had earned $476 in interest. How much was in each account?
$
at 4%
$
at 8 %
Pls show work

Answer 1

What we know:

I = Invest (so we dont mess up on interest.)

So, I = $7,000

First Account is 4%

Second Account is 2%

End of the year David Earns $476 in interest

With percent's you can always turn them into a decimal.

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The Question: How much was in each account?

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Step by Step Answer:

I = amount invested at 4%

4% = 0.40

8% = 0.80

0.40 - $7,000 = 6999.6

0.80 - 6999.6 = 6998.8

6998.8 - 476

Amount in both accounts in total is 6522.80.

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HOPE THIS HELPS! =3

HAVE A FANTASTIC DAY!