document.write( "Question 999303: Kristina invests a total of $20,000 in two accounts paying 2% and 14% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $1,540.00. \n" ); document.write( "

Algebra.Com's Answer #616968 by addingup(3677) $\"\"$ $\"About$

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Let's call the account at 0.02(2%) x and the account at 0.14 y:
\n" ); document.write( "x+y= 20,000. Subtract y from both sides:
\n" ); document.write( "x= 20,000-y In the equation below, we will apply this value for x.
\n" ); document.write( "----------------------
\n" ); document.write( "0.02x+0.14y= 1,540 Substitute for x as we said above:
\n" ); document.write( "0.02(20,000-y)+0.14y= 1,540 Multiply on left:
\n" ); document.write( "400-0.02y+0.14y= 1,540 Subtract 400 from both sides and add y on left
\n" ); document.write( "0.12y= 1,140 Divide both sides by 0.12:
\n" ); document.write( "y= 9,500 This is the amount invested at 14%. And:
\n" ); document.write( "x= 20,000-y= 20,000-9,500= 10,500
\n" ); document.write( "Proof:
\n" ); document.write( "9,500*0.14= 1,330
\n" ); document.write( "10,500*0.02= 210
\n" ); document.write( "_ _ _ _ _ _ --------
\n" ); document.write( "Total.......1,540 We have the correct answer.
\n" ); document.write( "J \n" ); document.write( "

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