Suppose $67,050 is divided into two bank accounts. One account pays 6% simple interest per year and the other pays 1%. After seven years there is a total of $15,000 in interest between the two accounts. How much was invested into the bank account that pays 1% simple interest (rounded to the nearest cent)?
Suppose $67,050 is divided into two bank accounts. One account pays 6% simple interest per year and the other pays 1%. After seven years there is a total of $15,000 in interest between the two accounts. How much was invested into the bank account that pays 1% simple interest (rounded to the nearest cent)?
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Suppose $67,050 is divided into two bank accounts. One account pays 6% simple interest per year and the other pays 1%. After seven years there is a total of $15,000 in interest between the two accounts. How much was invested into the bank account that pays 1% simple interest (rounded to the nearest cent)?
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