Question

You invested S3000 between two accounts paying 4% and 8% annual interest respectively if the total interest eamed for the year was S520 how much was invested at each ratė? was invested at 4% and so was invested at se​

Answer 1

Even investing the $ 3,000 in the account at 8%, the result would be an annual interest of $ 240, with which there is an error in the wording of the question.

Explanation:

Given that you invested $ 3000 between two accounts paying 4% and 8% annual interest respectively, to determine how much was invested at each rate if the total interest eamed for the year was $ 520, the following calculation must be performed:

3000 x 0.04 + 0 x 0.08 = 120

1500 x 0.04 + 1500 x 0.08 = 180

3000 x 0.08 + 0 x 0.04 = 240

Thus, as can be seen, even investing the $ 3,000 in the account at 8%, the result would be an annual interest of $ 240, with which there is an error in the wording of the question.