SOLUTION: Stephen has $40,000 to invest in two accounts. One account pays 4% and the other pays 6%. The annual income from the accounts is $2040. How much did he invest in each account

SOLUTION: Stephen has $40,000 to invest in two accounts. One account pays 4% and the other pays 6%. The annual income from the accounts is $2040. How much did he invest in each account

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Question 907919: Stephen has $40,000 to invest in two accounts. One account pays 4% and the other pays 6%. The annual income from the accounts is $2040. How much did he invest in each account
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
x amount at 6%
.06x + .04(40,000-x) = 2040
x = (2040- 1600)/.02, amount at 6%
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