John invest $5,000 in one account and $8,000 in an account paying 4% more in interest. He earned $1,230 in interest after one year. At what rates did he invest

Given:

John invest $5,000 in one account and $8,000 in an account paying 4% more in interest.

Total interest in one year = $1230

To find:

The rates of the investments.

Solution:

Let x% be the rate of interest on investment $5000.

Then, (x+4)% is the rate of interest on investment $8000.

Total interest is $1230. So,

Divide both sides by 130.

Now,

Therefore, $5,000 is invested at 7% and $8,000 is invested at 11%.

answer: 1, 3 and 5 are correct

step-by-step explanation:

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step-by-step explanation: