Question

Mark invests $9600 in two different accounts. The first account paid 14 %, the second account paid 6 % in interest. At

the end of the first year he had earned $1056 in interest. How much was in each accounts?

Answer 1

3600 and 9600

Explanation:

let both accounts be rep by and A and B. We then add the two accounts

a + b = 9600 .......... eqn 1

payment on he first account = 14% 14/100 = 0.14

payment on the second account = 6% , 6/100 = 0.06

0.14a + 0.06b = 1056 ...... eqn 2

from equation 1 a+ b = 9600

a = 9600 - b ( we then put that into eqn 2

0.14(9600 - b) + 0.06b = 1056

1344 - 0.14b + 0.06b = 1056

-0.08b = -288 ( divide both sides by 0.08b

b = 3600

since a = 9600 -b

a = 9600 - 3600

a = 6000