| John decided to invest $12,800 in two accounts. He has invested one part in Wells Fargo at a 3.125 % annual interest rate and the second part in a money market fund at a 4.75 % annual interest rate. If the total simple interest for one year was $465, find how much was invested in each account, given that interest for one year is the interest rate times the principal. fulutium DI

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 61SE: Last year, at Haven's Pond Car Dealership, for a particular model of BMW, Jeep, and Toyota, one...
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s] John decided to invest $12,800 in two accounts. He has invested one part
in Wells Fargo at a 3.125 % annual interest rate and the second part in a money market fund at a 4.75 %
annual interest rate. If the total simple interest for one year was $465, find how much was invested in
each account, given that interest for one year is the interest rate times the principal.
Solution. Please write your detailed solution here:
Please write your answer in the box
$
was invested at 4.75%
$
was invest at 3.125%
Transcribed Image Text:s] John decided to invest $12,800 in two accounts. He has invested one part in Wells Fargo at a 3.125 % annual interest rate and the second part in a money market fund at a 4.75 % annual interest rate. If the total simple interest for one year was $465, find how much was invested in each account, given that interest for one year is the interest rate times the principal. Solution. Please write your detailed solution here: Please write your answer in the box $ was invested at 4.75% $ was invest at 3.125%
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