You invested $6000 between two accounts paying 3% and 8% annual interest, respectively. If the total interest earned for the year was $280, how much was invested at each rate? was invested at 3% and $was invested at 8%.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.54TI: In five years, Gloria’s bank account earned $2,400 interest at 5% simple interest. How much had she...
icon
Related questions
Question
You invested $6000 between two accounts paying 3% and 8% annual interest, respectively. If the total interest
earned for the year was $280, how much was invested at each rate?
was invested at 3% and $was invested at 8%.
Transcribed Image Text:You invested $6000 between two accounts paying 3% and 8% annual interest, respectively. If the total interest earned for the year was $280, how much was invested at each rate? was invested at 3% and $was invested at 8%.
Expert Solution
steps

Step by step

Solved in 3 steps with 16 images

Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning