5. Solve each application. (a) Ann invested $12,000 in two bank accounts. One of the accounts pays 6% annual interest, and the other account pays 5% annual interest. If the combined simple interest earned in both accounts after a year was $700, how much money was invested in each account?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 65SE: Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount...
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5. Solve each application.
(a) Ann invested $12,000 in two bank accounts. One of the accounts pays 6% annual
interest, and the other account pays 5% annual interest. If the combined simple
interest earned in both accounts after a year was $700, how much money was
invested in each account?
Transcribed Image Text:5. Solve each application. (a) Ann invested $12,000 in two bank accounts. One of the accounts pays 6% annual interest, and the other account pays 5% annual interest. If the combined simple interest earned in both accounts after a year was $700, how much money was invested in each account?
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