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Question

Use a system of equations to solve the following problems. See the earlier examples.

An investor decides at the beginning of the year to invest some of his cash in an account paying $8 \%$ annual interest, and to put the rest in a stock fund that ends up earning $15 \%$ over the course of the year. He puts $\$ 2000$ more in the first account than in the stock fund, and at the end of the year he finds he has earned $\$ 1310$ in interest. How much money was invested at each of the two rates?

Solution

VerifiedAnswered 2 years ago

Answered 2 years ago

Step 1

1 of 5## Let:

$\begin{aligned} \text{Account}&=x\\ \text{Stock Funds}&=y \end{aligned}$

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