Problema Solution
A Person Plans to invest a total of $2500in an online account at 5% annual interest and a bank account at 17%. How much should he invest in each account so that the total interest in one year will be $305?
Answer provided by our tutors
Let
x = the money invested at 5% annual interest
y = the money invested at 17% annual interest
x + y = 2500
0.05x + 017y = 305
........
........
x = $2,489.38
y = $10.62
She should invest $2,489.38 at 5% and $10.62 at 17%.