SOLUTION: Last year Rachel invested money in two accounts. The first account had an interest rate of 6% and the second account had an interest rate of 4%. If she invested $300 more in the

Question 1016806: Last year Rachel invested money in two accounts. The first account had an interest rate of 6% and the second account had an interest rate of 4%. If she invested $300 more in the first account than the second and her total interest income was $608, how much did she invest at each rate?
Step 1 of 3 : Complete the following table by entering the missing values. Enter the rates in decimal for
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Last year Rachel invested money in two accounts. The first account had an interest rate of 6% and the second account had an interest rate of 4%. If she invested $300 more in the first account than the second and her total interest income was $608, how much did she invest at each rate?
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Equations:
s = f + 300 dollars
0.06s + 0.04f = 608 dollars
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Modify for elimination::
6s - 6f = 6*300
6s + 4f = 100*608
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Subtract and solve for "f"::
10f = 59000
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f = $5900.00 (amt invested at 4%)
s = f+300 = $59,300 (amt invested at 6%)
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Cheers,
Stan H.
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