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| Math Central | Quandaries & Queries |
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Question from Brad: Kristina invests a total of $27,500 in two accounts paying 5% and 7% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,645.00.
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Hi Brad,
Suppose that Kristina invested $x$ dollars at 5% simple interest. From this investment she would earn $0.05 \times x$ dollars.
How much did she invest at 7%? How much did she earn on this investment?
Her total earnings were $\$1,645.00.$ This gives you an equation you can solve for $x.$
Make sure you check your answer,
Penny
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