You invested $25,000 in two accounts paying 5% and 8% annual interest respectively, If the total...

Question

Question

Answer 1

Answer #1

Let the amount invested in 5% be x

Equation would be:

5%*x + (25000-x)*8% = 1460

Now solve for x,

0.05x + 2000 - 0.08 x = 1460

X = 18000

The amount invested at 5% is $18,000

Answer 2

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