SOLUTION: Cliff had a total of $100,000 to invest. He put some of the money in Bank A that paid 4% interest and the rest in Bank B which paid 5% interest. After a year, the amount of interes

Question 529293: Cliff had a total of $100,000 to invest. He put some of the money in Bank A that paid 4% interest and the rest in Bank B which paid 5% interest. After a year, the amount of interest he earned was $4850. How much money did Cliff invest in Bank A? Also provide a step by step procedure on how to get the answer.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 4%
Let = amount invested @ 5%
given:
(1)
(2)
--------------------
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)

and, since
(1)
(1)
(1)
Cliff invested $15,000 in bank A
check answer:
(2)
(2)
(2)
(2)
OK
RELATED QUESTIONS
Last year, Dan had $10,000 to invest. He invested some of it in an account that paid 5%... (answered by josgarithmetic,greenestamps)

Last year, Michael had $20,000 to invest. He invested some of it in an account that paid... (answered by ikleyn)

Last year, Kareem had $10,000 to invest. He invested some of it in an account that paid... (answered by ikleyn)

Last year, Lucy had $10,000 to invest. He invested some of it in an account that paid 9%... (answered by ikleyn)

Last year, Carlos had $30,000 to invest. He invested some of it in account that paid 10%... (answered by greenestamps)

Vern sold his 1964 Ford Mustang for $55,000 and wants to invest the money to earn him... (answered by ikleyn)

A small company had $24,000 to invest. It invested some of the money in a bank that... (answered by checkley77)

A person got 100000 dollar when he retired from service. He deposited some of that amount (answered by ikleyn)

Last year, Josh had $20,000 to invest. He invest some of it in an account that paid 7%... (answered by jorel555)