SOLUTION: Suppose you invest a certain amount of money in an account that pays 6% interest annually and $1000 more in an account that pays 2% annually how much money was invested in each acc

Question 1147235: Suppose you invest a certain amount of money in an account that pays 6% interest annually and $1000 more in an account that pays 2% annually how much money was invested in each account if the total interest for a year is $660
Answer by ikleyn(52908) (Show Source): You can put this solution on YOUR website!
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Let x be the amount invested at 6%.


Then the other amount is  (x+1000) dollars.


The total interest is the sum of partial interests


    0.06x + 0.02*(x+1000) = 660.


Express x and calculate


    x =  = 8000  dollars.


Answer.  $8000 invested at 6%  and  8000+1000 = 9000 dollars invested at 2%.


CHECK.  0.06*8000 + 0.02*9000 = 660  dollas.    ! Precisely correct !

Solved.

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