Ms.Jamison plans to invest $3,800 in two accounts for one year. The first account earns a yearly interest of 3.5%. The second account earns a yearly interest of 6%. How much money does Ms Jamison need to invest in the second account in order to earn $188 in interest from both accounts?
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Answer: Let x = amount at 3.5%.
Then the amount at 6% is (3800-x).
The interest from the 3.5% amount is 0.035*x dollars.
The interest from the 6% amount is 0.06*x dollars.
Your equation is
interest + interest = total interest, or
0.035*x + 0.06*(3800-x) = 188 dollars.
x = %28188+-+0.06%2A3800%29%2F%280.035-0.06%29 = 1600.
Answer. The amount at 3.5% is $1600; the rest $3800-$1600 = $2200 is the amount at 6%.
Check. 0.035*1600 + 0.06*2200 = 188 dollars. ! Correct !
Step-by-step explanation:
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