A total of $11,000 is invested in two different accounts. The first account at 6.5% simple interest and the second at 7.5% simple interest. How much should be invested in each account in order to earn $790 in interest the first year?

A total of $11,000 is invested in two different accounts. The first account at 6.5% simple interest and the second at 7.5% simple interest. How much should be invested in each account in order to earn $790 in interest the first year?

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...

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Question

A total of $11,000 is invested in two different accounts. The first account
at 6.5% simple interest and the second at 7.5% simple interest. How much should
be invested in each account in order to earn $790 in interest the first year?

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