Question

Suppose $6500 is divided into two bank accounts. One account pays 10% simple interest per year and the other pays 4.6%. After two years there is a total of 1000 in interest between the two accounts. How much was invested into the bank account that pays 10% simple interest(rounded to the nearest cent)?

Answer 1

$6500/2=3250

account that pay's 10% equation
$3250*0.1=325

the answer is $325

If i am wrong then i am sorry and will look over what i did. i havn't done math in a while but i can usually get the equations right. Please make sure to tell me what the correct answer was if i am wrong.

Answer 2

interest + interest = interest
0.10x + 0.046(6500-x) = 500

Multiply thru by 1000 to get:
100x + 46*6500 - 46x = 500000
-
54x = $201,000
x = $3722.22 (amt. invested at 10%
6500 - x = $2777.78 (amt. invested at 4.6%