SOLUTION: a total of $15,000 was invested in two savings accounts. one account pays 4% annual simple intrest and the other 6% annual simple intrest. if the total intrest earned after 1 year

Algebra.Com
Question 1113470: a total of $15,000 was invested in two savings accounts. one account pays 4% annual simple intrest and the other 6% annual simple intrest. if the total intrest earned after 1 year was $760, how much was invested at each rate?
Answer by ikleyn(52776)   (Show Source): You can put this solution on YOUR website!
.
Let x = the amount invested at 4%.

Then the amount invested at 6% was (15000-x).



Your equation is THIS


interest + interest       = total interest


0.04x    + 0.06*(15000-x) = 760


0.04x + 0.06*15000 - 0.06x = 760


-0.02x = 760 - 0.06*15000 = -140  ====>  x =  = 7000.


Answer.  $7000 was invested at 4%;   the rest  $15000 - $7000 = $8000 was invested at 6%.


Check.   7000*0.04 + 8000*0.06 = 760.  ! Correct !

Solved.

-------------
It is a typical and standard problem on investment.

To see many other similar solved problems on investment,  look into the lesson
    - Using systems of equations to solve problems on investment
in this site.

You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
different methods of solution to the equations  (Substitution,  Elimination).

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic  "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.


RELATED QUESTIONS

you split 1500 between two savings accounts. account A pays 5% intrest and account B pays (answered by rfer)
A total of $18,000 is invested in two simple intrest accounts. On one of the accounts... (answered by checkley71)
a teacher invested $11,000 in two accounts. part of the money was invested at 8% annual... (answered by solver91311)
A total investment of $10,400is made into two savings accounts. One account... (answered by josgarithmetic)
You invest $12,000 into two diffrent accounts. One account pays 4% annual and the other... (answered by mananth)
A total investment of $9,600is made into two savings accounts. One account yields 5%... (answered by PRMath,MathTherapy)
Paul wants to invest a total of $5000 in two accounts, one paying 4% annual simple... (answered by checkley71)
$9000 is invested in two accounts. Account A pays 4% annual interest and account B pay 6% (answered by mananth)
A man invests a total of in two savings accounts. One account yields 9% simple interest... (answered by stanbon)