A total investment of $500 was put into two different accounts: one at 3.75% and one at 3%. If the annual Interest earned was $18, how much was invested at each rate?

what will be the equation to solve?

Question

A total investment of $500 was put into two different accounts:  one at 3.75% and one at 3%.  If the annual Interest earned was $18, how much was invested at each rate?

what will be the equation to solve?

anonymous · Answer

You would need two equations:

X + Y = $500 represents totally investment
.0375X + .03Y= $18 is given amount of total interest

Then substitute for Y (or you could for X if you prefer) where Y = 500-X

anonymous · Answer

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