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OpenStudy (anonymous):
You invested $7000 in two accounts paying 2/5 and 5% annual interest, respectively. If the total interest earned for the year was $230, how much was invested at each rate?
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OpenStudy (mertsj):
The two amounts are x and 7000-x the interest on the two amounts is: .004x and .05(7000-x) The total interest is $230 so: .004+.05(7000-x)=230
OpenStudy (mertsj):
Assuming that you meant 2/5 % that is.
OpenStudy (anonymous):
I meant 2% and 5% respectively.
OpenStudy (anonymous):
So instead of 2/5% it would be 2%
OpenStudy (mertsj):
ok. replace .004 with .02
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