Ask Question
20 October, 07:08

Zach invested money in two retirement investment accounts. One account pays 2.5% annual interest, and the other high-yield account pays 4.3% annual interest. He invested three times as much money in the 4.3% high-yield account as he did in the 2.5% account. At the end of the year, Zach made $1386 in interest. How much money did Zach invest in each account.

+4
Answers (1)
  1. 20 October, 07:57
    0
    amount invested @2.5% = $9,000

    Amount invested @4.3% = 3 * $9,000 = $27,000

    Step-by-step explanation:

    Data provided in the question:

    Let the amount invested in the account with 2.5% annual interest be 'x'

    thus,

    according to the question

    the amount invested in the account with 4.3% annual interest will be '3x'

    also,

    2.5% (x) + 4.3% (3x) = $1386

    or

    ⇒ 0.025x + 0.043 (3x) = $1386

    ⇒ 0.025x + 0.129x = $1386

    ⇒ 0.154x = $1386

    ⇒ x = $9,000

    Therefore,

    amount invested @2.5% = $9,000

    Amount invested @4.3% = 3 * $9,000 = $27,000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Zach invested money in two retirement investment accounts. One account pays 2.5% annual interest, and the other high-yield account pays ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers