Answer:
I invested $ 10,000 at 7% per year, and $ 1,000 at 3% per year.
Step-by-step explanation:
Given that I invested $ 11,000 in two accounts paying 3% and 7% annual interest, respectively, if the total interest earned for the year was $ 730, to determine how much was invested at each rate, the following calculation must be performed:
5,000 x 0.07 + 6,000 x 0.03 = 530
8,000 x 0.07 + 3,000 x 0.03 = 650
10,000 x 0.07 + 1,000 x 0.03 = 730
Therefore, I invested $ 10,000 at 7% per year, and $ 1,000 at 3% per year.
