Question

You invested a total of $15,000 at (mixed fraction) 4 1/2% and 5% simple interest. During one year, the two accounts earned $715. How much did you invest in each account?

Answer 1

The two investments are $7000 and $8000 during one year.

The amount $15,000 invested at $4\frac{1}{2}$% and 5% simple interest.

During one year, the two accounts earned $715.

What is simple interest?

Simple interest is a method for calculating the amount of interest charged on a sum over a fixed period of time at a given rate.

Let amount x be invested at $4\frac{1}{2}$%. Then, amount 15,000-x is invested at 5%.

Now, $4\frac{1}{2}$×x+5×15000-x=715

⇒0.045x+0.05(15000-x)=715

⇒0.045x+750-0.05x=715

⇒750-0.005x=715

⇒0.005x=35

⇒x=$7000

Thus, x=$7000 and 15000-x=$8000

Hence, the two investments are $7000 and $8000.

To learn more about simple interest visit:

brainly.com/question/25663053

#SPJ1