Math

posted by .

An investor must invest a total of $15,000 in two accounts, one paying 4% annual interest, and the other 3%. If he wants to earn $550 annual interest, how much should he invest at each rate?

  • Math -

    .04x + .03(15000-x) = 550

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is $11000 dollars. How much …
  2. Intermidiate algebra

    a woman ivests in two bank accounts, one with a 3% percent interest and the other paying 9% simple interest per year.She puts twice as much in the lower account. Her annual interest is 7110. How much did she invest in each account?
  3. math

    Wendy invested $6500.00 into two bank accounts, one paying 4% simple interest and the other paying 6%. If her annual interest from the two accounts is $344, how much did she invest at 6%?
  4. Algebra

    A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 418 dollars. …
  5. Algebra

    Ramona divided his 35,000 inheritance between two investments, one paying 9% and the other 12% simple interest. is total annual income on the interest alone was 3,000. How much did he invest at 9%?
  6. algebra

    has inherited $15,000 that she wants to invest in two separate accounts, one paying 4% and one paying 3% annual interest. If the total interest earned for a year is $550, how much should she invest at each rate?
  7. University of North Dakota

    an investment club placed $33,000 into two simple interest accounts. On one account, the annual simple intrest rate is 9.5%. On the other, the simple interest rate is 1.5%. How much should be invested in each account so that both accounts …
  8. Essex

    An investment club placed $33,000 into two simple interest accounts. On one account, the annual simple interest rate is 6.5%. On the other, the annual simple interest rate is 4.5%. How much should be invested in each account so that …
  9. math

    Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of accounts: one paying 3%, one paying 5 1/2%, and one paying 6% simple interest per year. Cyndee wants to put twice as much in the lowest-yielding, …
  10. math

    An investment club placed $36,000 into two simple interest accounts. On one account, the annual simple interest rate is 8.5%. On the other, the annual simple interest rate is 3.5%. How much should be invested in each account so that …

More Similar Questions