Deposit
We deposited a total of $15,000 into simple interest accounts. The annual simple interest rate on one account at 6% the annual simple interest rate on the second account at 7%. How much should be invested in each account so that the total interest earned is $970
Final Answer:
Tips for related online calculators
Our percentage calculator will help you quickly and easily solve a variety of common percentage-related problems.
Do you have a linear equation or system of equations and are looking for its solution? Or do you have a quadratic equation?
Do you have a linear equation or system of equations and are looking for its solution? Or do you have a quadratic equation?
You need to know the following knowledge to solve this word math problem:
algebrabasic operations and conceptsUnits of physical quantitiesGrade of the word problem
Related math problems and questions:
- Melanie
Melanie invests a total of $21,500 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 10% loss in the same time period. At the end of one year, the total amount of money gained was $225 - Two accounts
A banker divided $5000 between 2 accounts, one paying 10% annual interest and the second paying 8% annual interest. Express the amount invested in the 10% account in terms of the amount invested in the 8% account. - Future value
Suppose you invested $1000 per quarter over 15 years. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earned? - Joy deposited
Joy deposited the sum of 50,000 in her bank account. After 5 months, she made another deposit of 125,000 and 6 months a lap before the withdrawal of 12,000 nairas. If the interest rate is 5% per annual, calculate how much she should have in her account. - Two accounts
Two accounts in the bank, one per year interest 2%, the second 3%. Total interest income 1900 USD. If we reversed interest rates, the yield would be USD 200 higher. What are the amounts on each account? - Combined interest
Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account on 5.5.2016 and withdrawn all before Christmas on 20.12.2016. How much money did she withdraw? - Half of money
Mr. Investor deposited half of his money in the bank at 5% interest. He invested the other half in bonds with 7% interest. How much money did he invest when his annual profit was CZK 600?
