$1,395 is divided between two accounts. One account pays 0.6% interest, while the other pays 6.9% interest. At the end of one interest period, the interest earned was $73. How much was invested at 6.9%?
Round your answer to 2 decimal places.
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Answer:
$1025.87
Step-by-step explanation:
Assume that
Account 1: $(x) with 0.6% of interest
Account 2: $(1395 - x) with 6.9% of interest
0.6% = 0.006
6.9% = 0.069
0.006x + 0.069(1395 - x) = 73
0.006x - 0.069x = 73 - 96.255
0.063x = 23.255
x = 369.13
$1395 - $369.13 = $1025.87 with 6.9% interest.
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