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6 November, 08:52

Zach invested money in two retirement investment accounts. One account pays 2.5% annual interest, and the other high-yield account pays 4.3% annual interest. He invested three times as much money in the 4.3% high-yield account as he did in the 2.5% account. At the end of the year, Zach made $1386 in interest. How much money did Zach invest in each account.

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  1. 6 November, 12:04
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    amount invested @2.5% = $9,000

    Amount invested @4.3% = 3 * $9,000 = $27,000

    Step-by-step explanation:

    Data provided in the question:

    Let the amount invested in the account with 2.5% annual interest be 'x'

    thus,

    according to the question

    the amount invested in the account with 4.3% annual interest will be '3x'

    also,

    2.5% (x) + 4.3% (3x) = $1386

    or

    ⇒ 0.025x + 0.043 (3x) = $1386

    ⇒ 0.025x + 0.129x = $1386

    ⇒ 0.154x = $1386

    ⇒ x = $9,000

    Therefore,

    amount invested @2.5% = $9,000

    Amount invested @4.3% = 3 * $9,000 = $27,000
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