Precalculus (6th Edition) Blitzer

Published by Pearson
ISBN 10: 0-13446-914-3
ISBN 13: 978-0-13446-914-0

Chapter P - Review Exercises - Page 145: 146

Answer

$2500$ dollars at $4\%$, $6500$ dollars at $7\%$.

Work Step by Step

Step 1. Assume the investment for the $4\%$ account is $x$ dollars. Then the amount left for the $7\%$ account is $9000-x$. Step 2. The total interest is given by $0.04x+0.07(9000-x)=555$, $0.04x+630-0.07x=555$ and $0.03x=75$, which gives $x=2500$ Step 3. The investment for the $4\%$ account is $2500$ dollars and the investment for the $7\%$ account is $6500$ dollars.
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