Question

You split $1500 between two savings accounts. One pays 4% interest and the other pays 5%. After one year you have earned $69.50 in interest. How much was in the 4% account ?

Answer 1

What's your answer.

Answer 2

550

Explanation:

0.04x+0.05(1500-x)=69.5

Solve for x

0.04x+75-0.05x=69.5

0.04x-0.05x=69.5-75

-0.01x=-5.5

X=5.5/0.01

X=550 invested at 4%

Hope it helps!