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March 29, 2017

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A total of $15,000 is invested into two accounts. One of the accounts earns 12% per year and the other earns 10% per year. If the total interest earned in the first year is $1600, how much is invested in each account?

1.) Define the variable(s) and what they stand for.
2.) Set up an equation
3.) State the solutions

  • algebra - ,

    amount invested at 12% --- x
    amount invested at 10% --- 15000-x

    .12x + .10(15000-x = 1600
    12x + 10(15000-x) = 160000
    12x + 150000 - 10x = 160000
    2x = 10000
    x = 5000

    so $5000 invested at 12% and $10000 invested at 10%

    check:
    .12(5000) + .1(10000) = 1600
    YUP!

  • algebra - ,

    12

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