SOLUTION: You invested a total of $6,000 at 4 1/2 % and 5% simple interest. During one year, the two accounts earned $290. How much did you invest in each account?
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Question 1145102: You invested a total of $6,000 at 4 1/2 % and 5% simple interest. During one year, the two accounts earned $290. How much did you invest in each account?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
If 
was invested in two accounts, 
at 
and 
at 
and the total interest earned at the end of one year is 
, then we know two things:
and
But from [1] we can deduce:
Then substituting into [2] we have:
i_2}{100}\ =\ Y)
Since you are given and , you now have a single equation in a single variable, namely:
\ =\ 290)
Solve for and then calculate 
John
My calculator said it, I believe it, that settles it
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