Use a system of equations to solve the following problem An investor decides to invest some cash in an account paying 5% annual interest, and to put the rest in a stock fund that ends up earning 13% over the course of a year. The investor puts $800 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1210 How much money was invested at each of the two rates? Round to the nearest integer Answer How to enter your answer (opens in new window) $ 4915 45% at 13%
Use a system of equations to solve the following problem An investor decides to invest some cash in an account paying 5% annual interest, and to put the rest in a stock fund that ends up earning 13% over the course of a year. The investor puts $800 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1210 How much money was invested at each of the two rates? Round to the nearest integer Answer How to enter your answer (opens in new window) $ 4915 45% at 13%
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.1: Systems Of Linear Equations
Problem 84E: Use the system of three equations in three variables to solve each problem. Investment income A...
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