SOLUTION: Last year, Latoya had $30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 7% simple i

Question 1125801: Last year, Latoya had $30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 7% simple interest per year. After one year, she received a total of $2240 in interest. How much did she invest in each account?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x=8% account
30000-x=7% account
interest is .08x+.07(30000-x)=2240
.01x+2100=2240
.01x=140
x=$14000 at 8% or $1120
30000-x=$16000 at 7% or $1120
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