SOLUTION: Suppose you invest money in two accounts. One of the accounts pay
9
%
annual interest, whereas the other pays
11
%
annual interest. If you have
$
4
,
000
more inve
Algebra.Com
Question 1146329: Suppose you invest money in two accounts. One of the accounts pay
9
%
annual interest, whereas the other pays
11
%
annual interest. If you have
$
4
,
000
more invested at
11
%
than you invested at
9
%
, how much do you have invested in each account if the total amount of interest you earn in a year is
$
840
?
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Come on! You can make this a little more tutor friendly like I did here
:
Suppose you invest money in two accounts.
One of the accounts pay 9% annual interest,
whereas the other pays 11% annual interest.
If you have $4,000 more invested at 11% than you invested at 9%
how much do you have invested in each account if the total amount of interest
you earn in a year is $840?
:
let a = amt invested at 9%
"you have $4,000 more invested at 11% than you invested at 9%" therefore:
(a + 4000) = amt invested at 11%
:
9% interest + 11% interest = 840
.09a + .11(a+4000) = 840
.09a + .11a + 440 = 840
.20a = 840 - 440
a = 400/.2
a = $2000 invested at 9%
then
2000 + 4000 = $6000 invested at 11%
:
:
Check: find how much return from each
.09(2000) = 180
.11(6000) = 660
-----------------
total int: $840
RELATED QUESTIONS
Suppose you invest money in two accounts. One of the accounts pay 8% annual interest,... (answered by mananth)
Suppose you invest money in two accounts. One of the accounts pay
9% annual interest,... (answered by stanbon)
Suppose you invest money in two accounts. One of the accounts pays 8% annual interest,... (answered by mananth)
Suppose you invest money in two accounts. One of the accounts pay 10% annual interest,... (answered by richwmiller)
Tyler has two savings accounts that his grandparents opened for him. One of the accounts... (answered by lwsshak3)
One of the accounts pay 9% annual interest, whereas the other pays 11% annual interest.... (answered by richwmiller)
Mary Poppins invests a total of $13,500 in two savings accounts. One pays 2% annual... (answered by jojo14344)
Tyler has two savings accounts that his grandparents opened for him. One of the accounts... (answered by macston)
Tyler has two savings accounts that his grandparents opened for him. One of the accounts... (answered by ikleyn,josgarithmetic)