Question
Michael Perez deposited a total of $2000 with two savings institutions. Bank A pays interest at the rate of 5%/year, whereas Bank B pays interest
Michael Perez deposited a total of $2000 with two savings institutions. Bank A pays interest at the rate of 5%/year, whereas Bank B pays interest at the rate of 7%/year. If Michael earned a total of $112 in interest during a single year, how much did he deposit in each institution?
| Bank A | $ |
| Bank B | $ |
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Financial Ratio Analysis
Authors: Andrew P.C.
1st Edition
1973493381, 978-1973493389
