Suppose $50,000 is divided into two bank accounts. One account pays 4% simple interest per year and the other pays 6.4%. After five years there is a total of $12,000 in interest between the two accounts. How much was invested into the bank account that pays 6.4% simple interest (rounded to the nearest cent)? O $55,555.56 O $16,666.67 O $45,511.55 O $33,333.33

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Suppose $50,000 is divided into two bank accounts. One account pays 4% simple interest per year and the other pays 6.4%. After five years there is a total of $12,000 in interest between the two accounts. How much was invested into the bank account that pays 6.4% simple interest (rounded to the nearest cent)?

- ○ $55,555.56
- ○ $16,666.67
- ● $45,511.55
- ○ $33,333.33
Transcribed Image Text:Suppose $50,000 is divided into two bank accounts. One account pays 4% simple interest per year and the other pays 6.4%. After five years there is a total of $12,000 in interest between the two accounts. How much was invested into the bank account that pays 6.4% simple interest (rounded to the nearest cent)? - ○ $55,555.56 - ○ $16,666.67 - ● $45,511.55 - ○ $33,333.33
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