Dilbert invests a total of $14,000 in two accounts paying 9% and 15% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,350.00.
A) Enter an equation that uses the information as it is given that can be used to solve this problem. Use x as your variable to represent the amount of money invested in the account paying 9% simple interest
12500
1500
To solve this problem, let's set up an equation using the given information.
Let x represent the amount of money Dilbert invested in the account paying 9% simple interest.
Since the total amount of money invested is $14,000, the amount invested in the account paying 15% simple interest would be the remaining amount, which is (14,000 - x).
Now, we can calculate the interest for each account. The interest earned from an account is calculated by multiplying the amount invested (principal) by the interest rate and the time period (in years).
The interest earned from the account paying 9% interest would be (x * 0.09) and the interest earned from the account paying 15% interest would be ((14,000 - x) * 0.15).
According to the problem, the total interest earned is $1,350. So, we can set up the equation:
(x * 0.09) + ((14,000 - x) * 0.15) = 1,350
Now you can solve this equation to find the value of x, which represents the amount of money Dilbert invested in the account paying 9% simple interest.
let x be the amount invested at 9%
14000-x the amount invested at 15%
solve for x and state your conclusion
.09x + .15(14000-x) = 1350
Tell me where I can invest money at those rates.