Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Charlotte invested $5,500 in two accounts. At the end of a year, one account had made a 3% gain, and the other had made

Charlotte invested $5,500 in two accounts. At the end of a year, one account had made a 3% gain, and the other had made a 2% gain. All together, Charlotte made $145 in interest. How much money did Charlotte invest in each account? The table below may help you organize information before you write an equation. If we let x be the amount of money invested in the 3% account... Organize data with a table Rate xx Principal == 3% Investment 0.03 2% Investment 0.02 x 5500-x Interest 0.03x 0.02(5500-x) According to the table, the total interest that Charlotte earned is dollars. Now set up and solve an equation to find how much Charlotte invested in each account. Charlotte invested ($3,500) at 3% and ($2,000) at 2%.

Step by Step Solution

3.53 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these Mathematics questions