Question

Tyler has two savings accounts that his grandparents opened for him. One of accounts pay 7 % annual interest, whereas the other pays 9 % annual interest. you have $600 more invested 9% then you invested at 7% , how much do you have invested in each account if the total amount of interest you eam in a year is $118

Answer 1

$400 and $1,000

Explanation:

Let us assume the x be the amount invested in 7% account

And, 600 + x be the amount invested in 9% account

Now the equation is

7x% + 9%(600 + x) = $118

0.07x + 54 + 0.09x = $118

0.16x = $118 -$54

0.16x = $64

x = $400

And, the other one is = $400 + $600 = $1,000