SOLUTION: Mrs. Ming invested an amount of money in two accounts for one year. She invested some at 8% interest and the rest at 6% interest. Her total amount invested was $1500. At the end of

SOLUTION: Mrs. Ming invested an amount of money in two accounts for one year. She invested some at 8% interest and the rest at 6% interest. Her total amount invested was $1500. At the end of

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Question 799456: Mrs. Ming invested an amount of money in two accounts for one year. She invested some at 8% interest and the rest at 6% interest. Her total amount invested was $1500. At the end of the year, she had earned $106.40 in interest. How much had Mrs. Ming invested in the account paying 6%?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

is total amount invested.

is one interest rate, and

is the other interest rate, both expressed as decimals.

is the amount invested at the

rate, and

is the amount invested at the

rate. And

is the total interest earned.

Hence

then since

we can write

Substitute your values for

,

,

, and

and then solve for

.

Finally, calculate

to find

John

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