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thehumantorch10

  • one year ago

WILL GIVE MEDAL for EXPLANATION AND ANSWER!!!!!! One thousand five hundred dollars is invested in two different accounts paying 4% and 5% interest. A total of $67 interest is earned after one year. How much money was invested at 4%? a. $700 b. $800 c. $900

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  1. thehumantorch10
    • one year ago
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    @LynFran

  2. anonymous
    • one year ago
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    Is the 4% and 5% interest anually ?

  3. anonymous
    • one year ago
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    Or monthly/daily/hourly and so forth ?

  4. thehumantorch10
    • one year ago
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    annually i think. it doeesnt specify

  5. anonymous
    • one year ago
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    Alright. The idea here is pretty simple. Consider this:suppose the first sum was X and the second sum was Y. |dw:1437351988132:dw|

  6. thehumantorch10
    • one year ago
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    k

  7. anonymous
    • one year ago
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    The total sum deposited being 1500$ simply means that X+Y=1500.

  8. anonymous
    • one year ago
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    The interest earned for each sum is simply: |dw:1437352107232:dw|

  9. anonymous
    • one year ago
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    Mathematically we can write that as: 4X/100 + 5Y/100 = 67 (which is the total interest earned that year)

  10. anonymous
    • one year ago
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    And now we simply have to solve two equations with two unknown variables. X+Y=1500 4X/100 + 5Y/100 = 67 We multiply the second equation with 100: X+Y=1500 4X+5Y=6700 We multiply the first equation with 5: 5X+5Y=7500 4X+5Y=6700 We subtract the second equation from the first equation: X=800 Which is the answe you are looking for.

  11. thehumantorch10
    • one year ago
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    thank you for the help!!!

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