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We figured out that the answer is $1200. Is there a formula to find out the answer, other than with process of elimination? here's the question ->
Myra gave a financial planner $5000 to invest between two accounts. One account had an interest rate of 6.24% and the other had an interest rate of 7.2%. For the investment services, the financial planner will take a $100 commission at the end of the year. After the commission has been collected, Myra’s total account balance at the end of the year was $5,248.48. How much money did the financial planner invest in the account with the lower interest rate?
Myra gave a financial planner $5000 to invest between two accounts. One account had an interest rate of 6.24% and the other had an interest rate of 7.2%. For the investment services, the financial planner will take a $100 commission at the end of the year. After the commission has been collected, Myra’s total account balance at the end of the year was $5,248.48. How much money did the financial planner invest in the account with the lower interest rate?