SOLUTION: A man deposited $6800 into two accounts. One account earns interest at 8% and the other at 10.5%. The total interest for one year is $669. Find the amount deposited in each account

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Question 95478This question is from textbook
: A man deposited $6800 into two accounts. One account earns interest at 8% and the other at 10.5%. The total interest for one year is $669. Find the amount deposited in each account. This question is from textbook

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A man deposited $6800 into two accounts. One account earns interest at 8% and the other at 10.5%. The total interest for one year is $669. Find the amount deposited in each account.
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Let amount invested at 8% be x; interest on this is 0.08x dollars
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Amt invested at 10.5% is "6800-x"; interest on this is 714-0.105x dollars
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EQUATION:
interest + interest = 669 dollars
0.08x + 714-0.105x = 669
-0.025x = -45
x = $1800.00 (amount invested at 8%)
6800-x = $5000 (amount invested at 10.5%
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Cheers,
Stan H.