SOLUTION: Ted put $4,000 in his savings account at Bank A. He put $ 6,000 in an account at Bank B that paid interest at twice the rate as Bank A. His total simple interest for the year was

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Question 156476: Ted put $4,000 in his savings account at Bank A. He put $ 6,000 in an account at Bank B that paid interest at twice the rate as Bank A. His total simple interest for the year was $640. What was the interest rate at each bank?
Answer by gonzo(654) About Me  (Show Source):
You can put this solution on YOUR website!
4000%2Ax+%2B+6000%2A2%2Ax+=+640
4000%2Ax+%2B+12000%2Ax+=+640
16000%2Ax+=+640
x+=+640+%2F+16000
x+=+.04
2%2Ax+=+.08+
to test the answer
4000+%2A+.04+%2B+6000+%2A+.08+=+640
interest rate at bank A is .04.
interest rate at bank B is .08.