SOLUTION: Taylor invests $800 in one account and $1600 in an account paying 4 % higher interest. At the end of one year she had earned $160 in interest. At what rates did she invest?
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Question 1031831: Taylor invests $800 in one account and $1600 in an account paying 4 % higher interest. At the end of one year she had earned $160 in interest. At what rates did she invest? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Taylor invests $800 in one account
LET RATE BE X%
and $1600 in an account paying 4 % higher interest.
(X+4)%
At the end of one year she had earned $160 in interest.
800*x% + 1600*(x+4)% = 160
multiply by 100
800x +1600(x+4) = 160*100
800x + 1600x + 6400=16000
2400x = 9600
x = 4
$800 at 4% & $1600 at8%
