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Alekssandra [29.7K]
3 years ago
11

David deposited $12,000 into two saving accounts bearing simple interest.   One of the accounts has an interest rate of 7% while

the other rate is 6%.   If the total interest earned after one year is $800, find the amount deposited into each of the accounts.
Mathematics
1 answer:
anygoal [31]3 years ago
6 0
In this item, we let x be the amount that is deposited in the account that has a simple interest equal to 7%. With this representation, the amount that is deposited in the account with simple interest of 6% is equal to 12000 - x. 

The amount of interest earned from the investment is calculated through the equation,
                I = P x (i)
For the first investment,
            I = (x)(0.07)
For the second investment,
            I = (12000 - x)(0.06)

Adding up the interests,
          800 = 0.07x + (0.06)(12000 - x)
The value of x from the equation is 8000.

<em>Therefore, the amount invested to that with 7% interest is $8000 and the amount invested to that with 6% interest is $4,000.</em>
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Hello, I will try my best to explain this to you as simple as possible.

First, you have to pass the -4 to the other side, like this:

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              ↓

-3 1/2x = -38 1/8 - 4

Then, you have to subtract -4 from -38 1/8, like so:

-3 1/2x =  -38 1/8 - 4

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My preferred method for this next step is this:

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Step-by-step explanation:

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