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OpenStudy (anonymous):
you invested $27,000 in two accounts paying 5% and 7% annual intrest, respectively. if the total interest earned for the year was $1710, how much was invested at each rate?
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OpenStudy (aum):
Assume x dollars was invested in the 5% account. Then, (27,000 - x) dollars was invested in the 7% count. Calculate the interest for one year investing x dollars in 5% account. Calculate the interest for one year investing (27,000 - x) dollars in 7% account Add up to find the total interest. Eqaute it to $1,710 and solve for x.
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