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nicole10

  • 3 years ago

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?

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  1. nicole10
    • 3 years ago
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    help please!

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

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

  4. nicole10
    • 3 years ago
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    but after i do that i get a negative

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

  6. nicole10
    • 3 years ago
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    no the 7% is simple interest

  7. emanumak
    • 3 years ago
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    sorry, the other one

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

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

  10. nicole10
    • 3 years ago
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    okay ill try!

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

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

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

  14. nicole10
    • 3 years ago
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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.. !

  15. emanumak
    • 3 years ago
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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

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

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