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Inga [223]
4 years ago
5

You invested a total of $9,000 at 4 1/2 % and 5% simple interest. During one year, the two accounts earned $435. How much did yo

u invest in each account
Mathematics
1 answer:
KonstantinChe [14]4 years ago
5 0

Answer:

The amount invested at 4.5% was \$3,000

The amount invested at 5% was \$6,000

Step-by-step explanation:

we know that

The simple interest formula is equal to

I=P(rt)

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

Let

x -----> the amount invested at 4.5%

9,000-x -----> the amount invested at 5%

in this problem we have

t=1\ year\\ P1=\$x\\ P2=\$(9,000-x)\\I=\$435\\r1=0.045\\r2=0.05

substitute

435=x(0.045*1)+(9,000-x)(0.05*1)

435=0.045x+450-0.05x

0.05x-0.045x=450-435

0.005x=15

x=\$3,000

so

9,000-x=\$6,000

therefore

The amount invested at 4.5% was \$3,000

The amount invested at 5% was \$6,000

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