SOLUTION: Elaine invested some money in an account paying 16%, and $100 more in an account paying 24%. If the amount of interest earned that year at 24% was $220 more than at 16%, how much w

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Elaine invested some money in an account paying 16%, and $100 more in an account paying 24%. If the amount of interest earned that year at 24% was $220 more than at 16%, how much w      Log On

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Question 1088594: Elaine invested some money in an account paying 16%, and $100 more in an account paying 24%. If the amount of interest earned that year at 24% was $220 more than at 16%, how much was invested at each rate>
Answer by ikleyn(52775) About Me  (Show Source):
You can put this solution on YOUR website!
.
I just solved very similar problem at this link
https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1088596.html

https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1088596.html

Consider it as your sample. Read it attentively.

Then solve your problem using the same logic and steps.

In this way you will test yourself whether you understand what was explained to you once.


Good luck and happy learning !