A person invested 2000 in two different accounts. One account earns 5% interest per year, and the other earns 7% interest per year. If the total interest earned in one year is 120, how much was invested in each account?

Mathematics
A person invested 2000 in two different accounts. One account earns 5% interest per year, and the other earns 7% interest per year. If the total interest earned in one year is 120, how much was invested in each account?

ScanSolve AI Answer

Answer

0.60$

Step 1: Calculate the percentages for each category using the given information. Let F be Football, H be Hockey, and B be Basketball. Given: P(F)=0.60P(F) = 0.60 P(H)=0.45P(H) = 0.45 P(B)=0.40P(B) = 0.40 P(FH)=0.30P(F \cap H) = 0.30 P(FB)=0.20P(F \cap B) = 0.20 P(HB)=0.15P(H \cap B) = 0.15 P(FHB)=0.10P(F \cap H \cap B) = 0.10

First, calculate the percentages of playing exactly two games: P(FandHonly)=P(FH)P(FHB)=0.300.10=0.20P(F and H only) = P(F \cap H) - P(F \cap H \cap B) = 0.30 - 0.10 = 0.20 P(FandBonly)=P(FB)P(FHB)=0.200.10=0.10P(F and B only) = P(F \cap B) - P(F \cap H \cap B) = 0.20 - 0.10 = 0.10 P(HandBonly)=P(HB)P(FHB)=0.150.10=0.05P(H and B only) = P(H \cap B) - P(F \cap H \cap B) = 0.15 - 0.10 = 0.05

Next, calculate the percentages of playing exactly one game: P(Fonly)=P(F)(P(FandHonly)+P(FandBonly)+P(FHB))P(F only) = P(F) - (P(F and H only) + P(F and B only) + P(F \cap H \cap B)) P(Fonly)=0.60(0.20+0.10+0.10)=0.600.40=0.20P(F only) = 0.60 - (0.20 + 0.10 + 0.10) = 0.60 - 0.40 = 0.20 $P(H only) = P(H) - (P(F and H only) + P(\text{H and B only

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Quick Answer

Calculate the percentages for each category using the given information. Let F be Football, H be Hockey, and B be Basketball.

A person invested 2000 in two different accounts. One account earns 5% interest per year, and the other earns 7% interest per year. If the total interest earned in one year is 120, how much was invested in each account?
Mathematics

This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.

ScanSolve AI Answer
Step 1: Calculate the percentages for each category using the given information. Let F be Football, H be Hockey, and B be Basketball. Given: P(F) = 0.60 P(H) = 0.45 P(B) = 0.40 P(F H) = 0.30 P(F B) = 0.20 P(H B) = 0.15 P(F H B) = 0.10 First, calculate the percentages of playing exactly two games: P(F and H only) = P(F H) - P(F H B) = 0.30 - 0.10 = 0.20 P(F and B only) = P(F B) - P(F H B) = 0.20 - 0.10 = 0.10 P(H and B only) = P(H B) - P(F H B) = 0.15 - 0.10 = 0.05 Next, calculate the percentages of playing exactly one game: P(F only) = P(F) - (P(F and H only) + P(F and B only) + P(F H B)) P(F only) = 0.60 - (0.20 + 0.10 + 0.10) = 0.60 - 0.40 = 0.20 $P(H only) = P(H) - (P(F and H only) + P(H and B only