Question

Suppose you invest money in two accounts. One of the accounts pays 4% interest annually, and

the other account pays 5% interest annually. You have $ 2000 more invested in the account paying
4% than in the account paying 5%. How much do you have invested in the account paying 4% if
you earn $ 670 interest in a year?

Answer 1

$16,750

Explanation:

It took a lot of plugging in and guessing

The formula used was 16750(1+.04)^1

That equaled 17420

17420-16750 is 670

Hope this helps