Question

Kristina invests a total of $7,500 in two accounts paying 4% and 12% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $500.00.$ was invested at 4% and$ was invested at 12%.Submit QuestionQuestion 3

Answer 1

$5000 was invested at 4% and $2500 was invested at 12%.

Explanation:

We have that she has 7500 and invests an unknown amount, we will call x at 4%, then she has 7500-x to invest at 12%.

Therefore, we can plan the following equation:

`0.04\cdot x+0.12\cdot\mleft(7500-x\mright)=500`

Solving for x:

`\begin{gathered} 0.04x+900-0.12x=500 \\ -0.08x=500-900 \\ x=(-400)/(-0.08) \\ x=5000 \end{gathered}`

Therefore she, 5000 $ at 4%, to calculate at 12% it would be:

`7500-5000=2500`

It means that at 12% she invested $ 2500