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Juan invests $225,000 in two accounts. Juan would like to earn $7600 a year to pay some expenses. Juan invests part of the money in an account paying 3% simple interest and the rest in an account
paying 4% simple interest.
(a) What variables are appropriate?
O A (total amount of money invested, in dollars) and B (total number of years money is invested)
O A (total amount of interest earned, in dollars) and B (total amount of money invested, in dollars)
A (amount of money, in dollars, invested at 3%) and B (amount of money, in dollars, invested at 4%)
O A (amount of money, in dollars, invested at 4%) and B (total amount of interest, in dollars, earned at 4%)
(b) Write a system of equations that will help Juan find the amount that should be invested in each account.
Total amount invested
Total interest earned
(c) How much does Juan need to invest in each account to earn $7600 per year? (Include units with your numerical answers.)
Juan needs to invest
in the account paying 3% interest and
in the account paying 4% interest.
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