Lennon invests $8500 in two different accounts. The first account paid 13%, the second account paid 14% in interest. At the end of the first year he had earned $1165 in interest. How much was in each account? s $ at 13% at 14%

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
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Chapter4: Time Value Of Money
Section: Chapter Questions
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Lennon invests $8500 in two different accounts. The first account paid 13 %, the second account paid 14%
in interest. At the end of the first year he had earned $1165 in interest. How much was in each account?
$
S
at 13 %
at 14%
Transcribed Image Text:Lennon invests $8500 in two different accounts. The first account paid 13 %, the second account paid 14% in interest. At the end of the first year he had earned $1165 in interest. How much was in each account? $ S at 13 % at 14%
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