Melanie invests a total of $27,500 in two accounts paying 2% and 14% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $2,290.00. was invested at 2% and was invested at 14%.
Melanie invests a total of $27,500 in two accounts paying 2% and 14% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $2,290.00. was invested at 2% and was invested at 14%.
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
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Transcribed Image Text:Melanie invests a total of $27,500 in two accounts paying 2%
and 14% annual interest, respectively. How much was
invested in each account if, after one year, the total interest
was $2,290.00.
$4
was invested at 2% and
was invested at 14%.
%24
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