SOLUTION: Suppose you invest a certain amount of money in an account that earns 4% annual interest and $2000 more than that in an account that pays 5% annual interest. If the total interest

Question 214679: Suppose you invest a certain amount of money in an account that earns 4% annual interest and $2000 more than that in an account that pays 5% annual interest. If the total interest brom both accounts at the end of the year is $370, how much is invested in each account?
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Let x = the amount invested at 4% and x+$2000 = the amount invested at 5%.
The interest earned on these two amounts ($370) can be expressed by:
Simplify.
Combine the x-terms.
Subtract 100 from both sides.
Divide both sides by 0.09
and
$2,000 was invested at 4% and $5,000 was invested at 5%.
RELATED QUESTIONS
calculate the amount of money you will have after 5 years in an account that you... (answered by ikleyn)

Suppose you invest a certain amount of money in an account that pays 6% interest annually (answered by ikleyn)

You plan to invest $600 in your savings account this year and then you intend to increase (answered by Theo)

if you invest a total of $42,000 in three different bank accounts. one account pays an... (answered by Boreal)

You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How... (answered by Boreal,stanbon)

Sharyn invests 2000 more in an account that earns 9% simple interest than she invests in... (answered by Boreal)

A worker deposits the proceeds from a bonus in an account that earns an annual simple... (answered by greenestamps,MathTherapy)

1)Suppose you invest $150 at the end of each month for 6 years into an account earning 6% (answered by ikleyn)

Suppose you invest money in two accounts. One of the accounts pays 8% annual interest,... (answered by mananth)