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1). Ms. Smith invested $29,000 in two accounts, one yielding 4% interest and the other yielding 8%. if she received a total of $1,720 in interest at the end of the year, how much sis she invest in each account? amount invested at 4%___2). Scott has a collection of 170 old coins consisting of quarters and dimes. if she figures that each coin is worth 5 times its face value, then her collection is worth $122.50. how many of each type of coin does she have?
Hi,Thanks for your question. 1) Amount invested at 4%: $15,000Amount invested at 8%: $14,000Interest: (4% x 15,000) + (8% x 14,000) = 600 + 1120 = $1,7202) Quantity of:Dimes: 120Quarters: 50Face value of coins = Value of collection / 5 = 122.50 / 5 = $24.50120 dimes x $0.10 + 50 quarters x $0.25 = $12.00 + $12.50 = $24.50Hope this helps!
Experience: Bachelors degree