Question

If Jessica has money into savings accounts worry is 5% in the other is 10% if she has $950 more in the 10% account and the total interest is 281 how much invested is in each savings account

Answer 1

5% account = $1,240

10% account = $2,190

Explanation:

Let's assume the amount of savings in the 5% account is x.

Thus the amount of savings in the 10% account is (x + $950).

We can write the following equation from the interest amount:

[5% x ] + [10% (x + $950)] = $281

5%x + 10%x + $95 = S281

15%x = $186

x = $1,240

There is $1,240 in the 5% account

Therefore, on the 10% account there is $1,240 + $950 = $2,190