SOLUTION: sally has money in two accounts. one account pays 5% interest, whereas the other pays 11% annual interest. if she has $400 more invested at 11% than she does at 5% and her total in
Algebra ->
Customizable Word Problem Solvers
-> Age
-> SOLUTION: sally has money in two accounts. one account pays 5% interest, whereas the other pays 11% annual interest. if she has $400 more invested at 11% than she does at 5% and her total in
Log On
Question 1129933: sally has money in two accounts. one account pays 5% interest, whereas the other pays 11% annual interest. if she has $400 more invested at 11% than she does at 5% and her total interest for a year is $172, how much does she have in each account? Answer by ikleyn(52792) (Show Source):
Let x be the amount invested at 11%, in dollars.
Then the amount invested at 5% is (x-400) dollars.
The condition says
interest + interest = total interest, or
0.11x + 0.05*(x-400) = 172
0.11x + 0.05x - 0.05*400 = 172
0.16x = 172 + 0.05*400
x = = 1200 dollars.
Answer. 1200 invested at 11%, and 1200 - 400 = 800 dollars invested at 5%.
Check. 0.11*1200 + 0.05*800 = 172 dollars. ! Correct !
