A total of $3800 is invested into two accounts paying 4% and 7% annual interest. In one year the combined interest on the accoun

Question

Maru [420]

3 years ago

15

A total of $3800 is invested into two accounts paying 4% and 7% annual interest. In one year the combined interest on the accoun

ts is $218.
Find the amount invested at 4%.

Mathematics

1 answer:

Sedaia [141] · Answer 1 · 2022-05-03T10:00:42+03:00

To find the money you make, take:

x(1 (+ or -) % interest rate) * Time

So in this case, it would be:

3800(1+0.04)(1) = Ans
and
3800(1+0.07)(1) = Ans

Assumably, combining those totals would give you $218. If you take the total of 3800(1+0.04)(1), subtract that from $218.

218 - (3800(1+0.04)(1)) = Your Answer