Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Fatuma invests a total of $12,500 in two accounts. The first account earned an annual interest rate of 9% and the second account earned an

image text in transcribed

Fatuma invests a total of $12,500 in two accounts. The first account earned an annual interest rate of 9% and the second account earned an annual interest of 3%. At the end of one year, the total amount of money gained was $765.00. How much was invested into each account? was invested in the account that earned 9% and $ $ was invested in the account that earned 3%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Accounting Principles Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

8th Canadian Edition

978-1119502425

Students also viewed these Accounting questions