A $7,000 principal is invested in two accounts, one earning 1% interest and another
earning 5% interest. If the total interest for the year is $202, then how much is invested
in each account?
$
at 1% interest
$
at 5% interest

For "mixture" problems, I like to let the variable represent the amount of the largest contributor. Here, we can let x represent the amount invested at 5%. Then the amount invested at 1% is (7000-x). The total interest earned is ...

0.05x +0.01(7000 -x) = 202

0.04x = 132 . . . . . . . . simplify, subtract 70

x = 3300

(7000 -x) = 7000 -3300 = 3700 . . . . at 1%

$3700 was invested at 1% interest.

$3300 was invested at 5% interest.

A $7,000 principal is invested in two accounts, one earning 1% interest and another earning 5% interest. If the total interest for the year is $202, then how much is invested in each account? $ at 1% interest $ at 5% interest

Respuesta :

Otras preguntas

A $7,000 principal is invested in two accounts, one earning 1% interest and another
earning 5% interest. If the total interest for the year is $202, then how much is invested
in each account?
$
at 1% interest
$
at 5% interest