document.write( "Question 59484: A man has a savings account that pays 1% annual interest and a mutual fund account that pays 11% annually. His total interest from the two accounts is $1540, and the total amount of money in the two accounts is $20,000. How much money does he have in the savings account? \n" ); document.write( "

Algebra.Com's Answer #40770 by josmiceli(19441) $\"\"$ $\"About$

You can put this solution on YOUR website!
20K is the total amount invested
\n" ); document.write( "Let x = amount invested @ 11%
\n" ); document.write( "20K - x = amount invested @ 1%
\n" ); document.write( " $\"1540+=+.11x+%2B+.01%2A%2820000+-+x%29\"$
\n" ); document.write( " $\"1540+=+.11x+%2B+200+-+.01x\"$
\n" ); document.write( " $\"1540+-+200+=+.1x\"$
\n" ); document.write( " $\"x+=+1340+%2F+.1\"$
\n" ); document.write( " $\"x+=+13400\"$
\n" ); document.write( "20K - x = amount invested @ 1%
\n" ); document.write( " $\"20000+-+13400+=+6600\"$
\n" ); document.write( "The amount invested in the savings account is $6,600 \n" ); document.write( "

\n" );