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- thehumantorch10

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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- thehumantorch10

- jamiebookeater

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- anonymous

Is the 4% and 5% interest anually ?

- anonymous

Or monthly/daily/hourly and so forth ?

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- thehumantorch10

annually i think. it doeesnt specify

- anonymous

Alright. The idea here is pretty simple. Consider this:suppose the first sum was X and the second sum was Y. |dw:1437351988132:dw|

- thehumantorch10

k

- anonymous

The total sum deposited being 1500$ simply means that X+Y=1500.

- anonymous

The interest earned for each sum is simply:
|dw:1437352107232:dw|

- anonymous

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

- anonymous

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.

- thehumantorch10

thank you for the help!!!

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