Please help me. A total of $7000 is deposited into two simple interest accounts. In one account the annual simple interest rate is 5%, and in the second accountthe annual simple interest rate is 6%. The amount of interest earned for 1 year was $370. How much was invested in each account?amount at 5% $amount at 6% $

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Answered: A total of $7000 is deposited into two…

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter10: Systems Of Equations And Inequalities

Section10.CR: Chapter Review

Problem 26E

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A total of $7000 is deposited into two simple interest accounts. In one account the annual simple interest rate is 5%, and in the second account the annual simple interest rate is 6%. The amount of interest earned for 1 year was $370. How much was invested in each account? amount at 5% amount at 6%