SOLUTION: Chris invested $4,100 into two money market accounts. One account has an interest rate of 3% and the other has a rate of 7%. Total interest earned at the end of the year was $191.

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Question 988058: Chris invested $4,100 into two money market accounts. One account has an interest rate of 3% and the other has a rate of 7%. Total interest earned at the end of the year was $191. How much was invested in each account?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Chris invested $4,100 into two money market accounts. One account has an interest rate of 3% and the other has a rate of 7%. Total interest earned at the end of the year was $191. How much was invested in each account?
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Equation:
int + int = 191
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0.03*x + 0.07(4100-x) = 191
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3x + 7*4100 - 7x = 19100
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-4x = -9600
x = $2400
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4100-2400 = $1700
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Cheers,
Stan H.
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