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SVEN [57.7K]
3 years ago
12

Helpppp need fast as possible Last year Debra had 30,000 to invest how much do she invest each account

Mathematics
1 answer:
k0ka [10]3 years ago
6 0
<u>Answer</u>
First account = $25,000
second account =$5,000

<u>Explanation</u>
The formular for simple interest is 
Interest = PRT
where P⇒money invested
           R⇒rate
           T⇒ Period (number of years)

Let x to be the money invested in the first account.
Money invested in the second account = 30,000 - x

∴ (x × 0.05×1) + ((30,000-x)×0.07×1) = 1600
0.05x+2100-0.07x = 1600
-0.02x = -500

x = -500/-0.02
   =25,000

Money invested in the first account = $25,000
Money invested in the second account = (30,000-25000) = $5000

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