Question 918392: Jane invests $9,885 into two accounts. A savings account earns 6% interest , while a money market account earns 9.5% interest. After one year she made $696.35 interest from both accounts . How much did she invest into each account?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Jane invests $9,885 into two accounts. A savings account earns 6% interest , while a money market account earns 9.5% interest. After one year she made $696.35 interest from both accounts . How much did she invest into each account?
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Equation:
int + int = int
0.06*x + 0.095*(9885-x) = 696.35
60x + 95*9885 - 95x = 696350
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-35x = -242725
x = $6935 (amt. invested at 6%
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9885-6935 = $2950 (amt. invested at 9.5%
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Cheers,
Stan H.
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