Use a system of equations to solve the following problem An investor decides to invest some cash in an account paying 5% annual interest, and to put the rest in a stock fund that ends up earning 13% over the course of a year. The investor puts $800 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 $1210 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) $ 4915 45% at 13%

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,...
icon
Related questions
Question
Use a system of equations to solve the following problem.
An investor decides to invest some cash in an account paying 5 % annual interest, and to put the rest in a stock fund that ends up earning 13% over the course of a
year. The investor puts $800 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 $1210
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)
$ 4915
$
ja 5%
at 13%
Keypad
Keyboard Shortcuts
Transcribed Image Text:Use a system of equations to solve the following problem. An investor decides to invest some cash in an account paying 5 % annual interest, and to put the rest in a stock fund that ends up earning 13% over the course of a year. The investor puts $800 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 $1210 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) $ 4915 $ ja 5% at 13% Keypad Keyboard Shortcuts
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education