College Algebra 7th Edition

Published by Brooks Cole
ISBN 10: 1305115546
ISBN 13: 978-1-30511-554-5

Chapter 5, Systems of Equations and Inequalities - Chapter 5 Review - Exercises - Page 479: 26

Answer

$\$3000$ into the first one ($6\%$) and $\$6000$ into the second one ($7\%$).

Work Step by Step

Let $x$ be the amount he invested into the first account. Then the amount he invested in the second one is $2x$. We also know that the annual interest is $600$. Thus, we have: $0.06x+0.07(2x)=600\\0.2x=600\\x=3000$ Hence, he invested $\$3000$ into the first one ($6\%$) and $\$3000*2=\$6000$ into the second one ($7\%$).
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