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2 years ago

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3) John has decided to invest his $20,000 in two saving accounts. He decides to invest some of it at 4.5% annual interest and th

e rest of it at 2.5% annual interest. After one year, his total interest from both accounts is $750. How much did he invest in each account?

1 answer:

Elza [17]2 years ago

7 0

The amount he invested in the account that yields 4.5% interest is $7,500.

The amount he invested in the account that yields 2.5% interest is $12,500.

<h3>What is the system of equations that represent the question?</h3>

a + b = $20,000 equation 1

0.045a + 0.025b = $750 equation 2

Where:

a = amount he invested in the account that yields 4.5% interest

b = amount he invested in the account that yields 2.5% interest

<h3>How much was invested in the account that yields 4.5% interest?</h3>

Multiply equation 1 by 0.025

0.025a + 0.025b = 500 equation 3

Subtract equation 3 from 2

250 = 0.02a

a = 12,500

<h3>How much was invested in the account that yields 4.5% interest?</h3>

Subtract 12,500 from 20,000

20,000 - 12,500 = $7,500

To learn more about simultaneous equations, please check: brainly.com/question/25875552

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