Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Systems Of Equations
Section11.CR: Review Problem Set
Problem 36CR: Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6...
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Question
Joy invests a total of $30,000 in two accounts. The first account earned an annual interest rate of 11% and the second account earned an annual interest of 7%. At the end of one year, the total amount of money gained was $2,820.00. How much was invested into each account?
$ was invested in the account that earned 11% and
$ was invested in the account that earned 7%.
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