Donna Invested Money in Two Accounts: One Paying 4% Simple

question 126

Multiple Choice

Donna invested money in two accounts: one paying 4% simple interest and the other paying 3% simple interest. She invested $3000 more in the 4% account than in the 3% account. If she received $960 in interest at the end of 1 yr how much did she invest in each account?

• A) $14,000 at 4% and $11,000 at 3%
• B) $11,000 at 4% and $14,000 at 3%
• C) $12,000 at 4% and $15,000 at 3%
• D) $15,000 at 4% and $12,000 at 3%

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Definitions:

Percent Equivalent

A way of expressing a number as a fraction of 100, denoting it with the symbol "%."

Significant Figures

The numbers of digits in a value that contribute to its precision, including all digits except leading and trailing zeros.

Accurate

Without inaccuracies or flaws; exact.

Repeating Decimal

A decimal fraction in which a sequence of digits repeats indefinitely.