Question 1139798: Maria invests a total of $10,500 in two accounts paying 6% and 15% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $990.00.
Found 3 solutions by mananth, greenestamps, josgarithmetic:
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website!
Maria invests a total of $10,500 in two accounts paying 6% and 15% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $990.00.
accounts paying 6% let amount invested be x
and 15% annual interest, this amount will 10500-x
6%x+(10500-x)*15%= 990
0.06x + 1575 -0.15x =990
-0.09x = -585
x= $6500
Balance @15%= $ 4000
Answer by greenestamps(13200)  (Show Source):
You can put this solution on YOUR website!
Here is a solution by a very different method that can be used on any 2-part mixture problem like this. Especially if the numbers are "nice", this method is much faster than the standard algebraic solution method.
$10,500 all invested at 6% would yield $630 interest; all at 15% would yield $1575 interest. The actual interest amount was $990.
Look at those three interest amounts (on a number line, if it helps) and observe/calculate that $990 is $360/$945 = 72/189 = 8/21 of the way from $630 to $1575.
That means 8/21 of the total was invested at the higher rate.
8/21 of the total $10,500 is 8*$500 = $4000.
ANSWER: $4000 was invested at 15%; the other $6500 at 6%.
CHECK: .15(4000)+.06(6500) = 600+390 = 990
Answer by josgarithmetic(39617)  (Show Source):
You can put this solution on YOUR website! Too many two part investment exercises are like this one.
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Maria invests a total of $10,500 in two accounts paying 6% and 15%
annual interest, respectively. How much was invested in each account if,
after one year, the total interest was $990.00.
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Maria invests a total of $Q in two accounts paying L% and H%
annual interest, respectively. How much was invested in each account if,
after one year, the total interest was $G.
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v, amount invested at H%
Q-v, amount invested at L%
G, amount of 1-year interest
 -----to account for the earned interest
 ----------now just use this, substituting your given values.
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