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?

Amount in 4% account=$what

Answer 1

Hi there

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%

1500-550=950 invested at 5%

Hope it helps