SOLUTION: Linda Smaoke invests a total of $ 10,000 in two savings accounts. One account pays 5% interest, and the other, 6%. Find the amount placed in each account if the accounts rece
Algebra.Com
Question 1136712: Linda Smaoke invests a total of $ 10,000 in two savings accounts. One account pays 5% interest, and the other, 6%. Find the amount placed in each account if the accounts receive a total of $560 in interest after 1 year. Use interest=principal*rate*time.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 5%
= amount invested @ 6%
Let = interest from 5% investment
= interest from 6% investment
--------------------------------------------------------
(1)
(2)
--------------------------------------------------------
(1)
(2)
(2)
--------------------------------------
Plug (1) into (2)
(2)
(2)
(2)
and
----------------------------------------
$4,000 was invested @ 5%
$6,000 was invested @ 6%
----------------------------------------
check:
(1)
(1)
(1)
and
(2)
(2)
(2)
OK
RELATED QUESTIONS
Linda Smaoke invests a total of $10,000 in two savings accounts. One account pays 6%... (answered by Msexcel ,ikleyn,greenestamps)
Linda Smaoke invests a total of $ 10,000 in two savings accounts. One account pays 6 %... (answered by ikleyn,greenestamps)
Linda smaoke invests a total of $10,000 in two saving accounts. One account pays 7%... (answered by josgarithmetic,greenestamps)
Mary Poppins invests a total of $13,500 in two savings accounts. One pays 2% annual... (answered by jojo14344)
A man invests a total of in two savings accounts. One account yields 9% simple interest... (answered by stanbon)
A man invests a total of in two savings accounts. One account yields 9% simple interest... (answered by lynnlo)
A man invests a total of $9,493in two savings accounts. One account yields 9% simple... (answered by mananth)
Mrs. Garcia invests a total of $9099 in two savings accounts. One account yields 7.5%... (answered by mananth)
Mrs. Brady invests a total of $8218 in two savings accounts. One account yields 8.5%... (answered by lwsshak3)