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$6,000 dollars is invested in two different accounts earning 3% and 5% interest. at the end of one year, the two accounts earned $220 in interest. how much money was invested at 5%?

Verified Answer :

apologiabiology

the 2 values invested are x and 6000-x

I=PRT
interest=principal times rate times time

time is 1 year so t=1
r=0.03 ad 0.05
we want to find 5% so x is wha we solve for

the interests are
0.03(6000-x) and 0.05x
they add to 220
220=0.03(6000-x)+0.05x
220=180-0.3x+0.05x
220=180+0.02x
minus 180 both sides
40=0.02x
divide both sides by 0.02
2000=x
$2000 was invested at 5%

InesWalston

Answer-

$2000 were invested at 5%

Solution-

Let x amount of money was invested at 5% and (6000-x) amount was invested as 3%

We know that,

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Putting the values,

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And

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According to the question,

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Therefore, $2000 were invested at 5%