SOLUTION: Samantha invests a total of $25,000 in two accounts paying 7% and 4% annual interest, respectively. How much was invested in each account if, after one year, the total interest was
Algebra.Com
Question 1194594: Samantha invests a total of $25,000 in two accounts paying 7% and 4% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $1,390.00.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x at 7% yields 0.07x
25000-x at 4% yields 0.04(25000-x)=1000-0.04x
those two add the 1390
so 1390=0.03x+1000
390=0.03x
x=$13,000 @ 7%=$910
$25000-x=$12000@4%=$480
They add to $1390.
RELATED QUESTIONS
Samantha invests a total of $33,500 in two accounts paying 13% and 7% simple interest,... (answered by ankor@dixie-net.com)
Dilbert invests a total of $20,000 in two accounts paying 11% and 2% annual interest,... (answered by josgarithmetic,greenestamps,Alan3354)
Estefania invests a total of P24,000 in two accounts paying 7% and 6% annual interest,... (answered by ikleyn)
Theodore invests a total of $39,000 in two accounts paying 12% and 7% annual interest,... (answered by ankor@dixie-net.com)
Juan invests a total of $39,000 in two accounts paying 14% and 11% annual interest,... (answered by god2012)
Monico invests a total of $24,000 in two accounts paying 11% and 3% annual interest,... (answered by macston)
Kristina invests a total of $20,000 in two accounts paying 2% and 14% annual interest,... (answered by addingup)
Kristina invests a total of $28,000 in two accounts paying 11% and 5% annual interest,... (answered by addingup)
Ngoc invests a total of $34,000 in two accounts paying 14% and 5% annual interest,... (answered by ikleyn)