115k views
1 vote
Suppose you invest a certain amount of money in account that earns 3% annual interest. You also invest that same amount + $2000 that earns 4% annual interest. If the total interest from both accounts at the end of the year is $535, how much has been invested in each account?

1 Answer

5 votes
First account: $6500
Second account: $8500

Set x is amount of money in first account
=> x + 2000 is money in second account.
X*3% + (x+2000)*4% = 535
=> x = (53500 - 8000) / 7
X = 45500 / 7 = 6500
=> account #1 = x = 6500
Acc #2 = x + 2000 = 6500 + 2000 = 8500
User Ketan Lathiya
by
8.1k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories