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(6287) (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:
Combine the x-terms.
Subtract 100 from both sides.
Divide both sides by 0.09
$2,000 was invested at 4% and $5,000 was invested at 5%.