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21 February, 11:25

You split $1500 between two savings accounts. Account A pays annual 5% interest and Account B pays 4% annual interest. After one year, you have earned a total of $69.50 in interest. How much money did you invest in each account?

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  1. 21 February, 11:35
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    You have 1 500 dollars and divided it into 2

    => Account A = X

    => pays annual 5% interests

    => Account B = Y

    => pays 4 % annual interests

    After 1 year you earned 69.50 dollars in interest.

    How much money did you invest?

    Let’s start solving

    => 5% (1500 - account B) + 4%B = 69.50

    => 75 - 0.05B + 0.4B = 69.5

    => 5.5 = 0.1B

    => B = 550

    Now, let’s solve for A

    => 1500 - 550

    => 950
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