An investor decides to invest some cash in an account paying 8 % annual interest, and to put the rest in a stock fund that ends up earning 12 % over the course of a year. The investor puts $200 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1300. How much money was invested at each of the two rates? Round to the nearest integer. Answer How to enter your answer (opens in new window) at 8% at 12 % Keypad Keyboard Shortcuts
An investor decides to invest some cash in an account paying 8 % annual interest, and to put the rest in a stock fund that ends up earning 12 % over the course of a year. The investor puts $200 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1300. How much money was invested at each of the two rates? Round to the nearest integer. Answer How to enter your answer (opens in new window) at 8% at 12 % Keypad Keyboard Shortcuts
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Use a system of equations to solve the following problem.
An investor decides to invest some cash in an account paying 8 % annual interest, and to put the rest in a stock fund that ends up earning 12 % over the course of a
year. The investor puts $200 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1300.
How much money was invested at each of the two rates? Round to the nearest integer.
Answer
How to enter your answer (opens in new window)
$
at 8%
at 12%
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