Question

A total investment of $10,700 is made into two savings accounts. One account yields 5% simple interest and the other 6% simple interest. He earns a total of $624.00 interest for the year. How much was invested in the 5% account? $

Answer 1

Answer:

He earn $535.00 in the 5% account

Step-by-step explanation:

$I = \frac{prt}{100}$

I = interest amount

p = $10 700

r = 5%

t = 1 year

I = (10700×5×1)/100

= $535.00

(Correct me if i am wrong)

Answer 2

He gots a total of $535