SOLUTION: Ted put $4,000 in his savings account at Bank A. He put $ 6,000 in an account at Bank B that paid interest at twice the rate as Bank A. His total simple interest for the year was

Question 156476: Ted put $4,000 in his savings account at Bank A. He put $ 6,000 in an account at Bank B that paid interest at twice the rate as Bank A. His total simple interest for the year was $640. What was the interest rate at each bank?
Answer by gonzo(654) (Show Source): You can put this solution on YOUR website!

to test the answer

interest rate at bank A is .04.
interest rate at bank B is .08.
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