Katy invests a total of $36,000 in two accounts. The first account earned an annual interest rate of 5% and the second account earned an annual interest of 2%. At the end of one year, the total amount of money gained was $1,245.00. How much was invested into each account? was invested in the account that earned 5% and was invested in the account that earned 2%. For this question, you must show all your work. Either type all steps into the answer box below, or scan/photograph your work and upload the file using Insert > Attach File in the answer box below.
Katy invests a total of $36,000 in two accounts. The first account earned an annual interest rate of 5% and the second account earned an annual interest of 2%. At the end of one year, the total amount of money gained was $1,245.00. How much was invested into each account? was invested in the account that earned 5% and was invested in the account that earned 2%. For this question, you must show all your work. Either type all steps into the answer box below, or scan/photograph your work and upload the file using Insert > Attach File in the answer box below.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Katy invests a total of $36,000 in two accounts. The first account earned an annual interest rate of
5% and the second account earned an annual interest of 2%. At the end of one year, the total
amount of money gained was $1,245.00. How much was invested into each account?
was invested in the account that earned 5% and
was invested in the account that earned 2%.
For this question, you must show all your work. Either type all steps into the answer box below, or
scan/photograph your work and upload the file using Insert > Attach File in the answer box below.
Edit Insert- Formats- BIU X x
A
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