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nicole10

You invested $6000 in two savings, some at 7% (simple interest) and the rest at 8.5%. The total amount of interest from both accounts for one year was $398. How much was invested in each account?

  • one year ago
  • one year ago

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  1. nicole10
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    help please!

    • one year ago
  2. emanumak
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    Simple interest= PRT/100, honey in a bit...

    • one year ago
  3. emanumak
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    |dw:1336623392948:dw| hope the hint is enough

    • one year ago
  4. nicole10
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    but after i do that i get a negative

    • one year ago
  5. emanumak
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    figured that out, i wonder if the 7% is simple interest?? Can it be compound?

    • one year ago
  6. nicole10
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    no the 7% is simple interest

    • one year ago
  7. emanumak
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    sorry, the other one

    • one year ago
  8. nicole10
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    the 8.5% does not mention if it is simple or compounded so i guess it can be either

    • one year ago
  9. emanumak
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    lemme try it as compound, u should too so we compare notes :-)

    • one year ago
  10. nicole10
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    okay ill try!

    • one year ago
  11. emanumak
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    I get a negative of 1,466.6667 as principal amount p1

    • one year ago
  12. nicole10
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    me too haha but how could you invest negative 1,466?

    • one year ago
  13. emanumak
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    you tell me :-) what do you think, could we be wrong, highly doubt that

    • one year ago
  14. nicole10
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    no idea maybe it was written poorly ? im goign to go with that and find out from my teacher tomorrow .. thank you so much im happy to know you agree now i could move on.. !

    • one year ago
  15. emanumak
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    http://openstudy.com/study#/updates/4fab362be4b059b524f7081e u mind takin a look? been stallin inthe first step i keep getting a third

    • one year ago
  16. nicole10
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    can you resend it i am not getting anything through that link

    • one year ago
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