SOLUTION: Mr. Wilson invested money in two accounts. His total investment was $30,000. If one account pays 3% in interest and the other pays 8% in interest, how much does he have in each acc

Algebra ->  Equations -> SOLUTION: Mr. Wilson invested money in two accounts. His total investment was $30,000. If one account pays 3% in interest and the other pays 8% in interest, how much does he have in each acc      Log On


   

Question 1033251: Mr. Wilson invested money in two accounts. His total investment was $30,000. If one account pays 3% in interest and the other pays 8% in interest, how much does he have in each account if he earned a total of $1,400 in interest in 1 year?
He invested $
in the 3% account and $
in the 8% account.
I am lost with word problems, can some one help?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
.03x+.08(30,000-x) = 1,400
.03x+2,400-.08x = 1,400
-.05x = -1,000
x = 20,000
He has 20,000 at 3% and 10,000 at 8%