SOLUTION: ALRIGHTY THE MURRAYS HAVE INVESTED MONEY IN TWO ACCOUNTS. ONE PAYS 7% INTEREST AND THE OTHER PAYS 8.5% INTEREST. THEY INVESTED $1000 MORE AT 8.5% THAN THEY INVESTED AT 7%. IF THE

Question 4267: ALRIGHTY
THE MURRAYS HAVE INVESTED MONEY IN TWO ACCOUNTS. ONE PAYS 7% INTEREST AND THE OTHER PAYS 8.5% INTEREST. THEY INVESTED $1000 MORE AT 8.5% THAN THEY INVESTED AT 7%. IF THE TOTAL INTEREST EARNED IN ONE YEAR IS $395, HOW MUCH MONEY HAVE THEY INVESTED IN EACH ACCOUNT?
GOD BLESS
Answer by rapaljer(4671) (Show Source): You can put this solution on YOUR website!
Let x = principle invested at 7% or .07
x+1000 = principle invested at 8.5% or .085

Total interest for the year is the sum of the interest on each account, which is given by Principle * Rate for the year.

The equation is:
.07(x) + .085(x+1000) = 395
.07x + .085x + 85 = 395
.155x + 85 = 395
.155x = 310

Divide each side by .155, which gives you

So, x = 310/.155 = 310000/155 = $2000

x = $2000 @ 7%
x+1000 = $3000 @8.5%

Check by adding up the interest:
.07(2000) + .085(3000)
140 + 170 = $310

I hope that helps

R^2 from SCC

P.S. Are you from the church school that posed problem #4130 and later commented in #4162??

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