SOLUTION: Quinn invests $5500 in two different accounts. The first account paid 5 %, the second account paid 7 % in interest. At the end of the first year he had earned $307 in interest. How

Question 1176107: Quinn invests $5500 in two different accounts. The first account paid 5 %, the second account paid 7 % in interest. At the end of the first year he had earned $307 in interest. How much was in each account?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!


Hi
I = P*r*t
 $307 = .07x + .05(5500-x)
 $32/.02 = x = $1600 at 7%  and $3900 at 5%
Wish You the Best in your Studies.

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