Kristina invests a total of $17,000 in two accounts paying 9% and 11% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,600.00.
A) Enter an equation that uses the information as it is given that can be used to solve this problem. Use z
as your variable to represent the amount of money invested in the account paying 9% simple interest.
Equation:
B) The answers are:
S
was invested at 9% and
$
was invested at 11%.
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