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?

Question

aum · Answer

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.