sethkennington58
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You have $5000 to invest in two different accounts. In order to save the money you need for college, you need to average 6.9% interest. If the two accounts pay 5.5% and 8% interest, how much should you invest in each account?

A) $2400 in 5.5%, $2600 in 8%

B) $2500 in 5.5%, $2500 in 8%

C)$2200 in 5.5%, $2800 in 8%

D) $2800 in 5.5%, $2200 in 8%

Respuesta :

lublana

Answer:

Amount invested at 8% = $2800

Amount invested at 5.5% = $2200.

Step-by-step explanation:

Let the amount invested at 8% = x

Then the amount invested at 5.5% = 5000-x

Then we get equation:

[8% of x] + [5.5% of (5000-x)] = [6.9% of 5000]

8(x) + 5.5(5000-x) = 6.9(5000)

8x + 27500 - 5.5x = 34500

8x - 5.5x = 34500-27500

2.5x = 34500-27500

2.5x = 7000

x = 7000/2.5

x = 2800

then  the amount invested at 5.5% = 5000-x = 5000-2800 = 2200

Hence final answer is given by:

Amount invested at 8% = $2800

Amount invested at 5.5% = $2200.

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