Question

Jordan invests $4700 in two different accounts. The first account paid 12 %, the second account paid 5 % in interest. At the end of the first year he had earned $319 in interest. How much was in each account?

$ _______________ at 12 %

$ _______________ at 5 %

Answer 1

$1199 at 12%

$3501 at 5$

Explanation:

0.12x + 0.05y = 319

x + y = 4700

x = 4700 - y

0.12 * (4700 - y) + 0.05y = 319

564 - 0.12y + 0.05y = 319

245 = 0.07y

y = 3501

0.12x + 0.05 * 3501 = 319

0.12x + 175 = 319

0.12x = 144

x = 1199