SOLUTION: A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much
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-> SOLUTION: A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much
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Question 1013590: A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much money was invested in each account?
You can put this solution on YOUR website! Call x the amount he invested at 2%. Thus he invested x+800 at 4%.
The setup looks like this then:
.02x + .04(x+800) = 92
.02x + .04x + 32 = 92
.06x = 60
x = $1000 at 2%
which means
800+x = $1800 at 4%
