SOLUTION: Kevin has money in two savings accounts. One rate is 13% and the other is 14%. If he has $650 more in the 14% account and the total interest is $226, how much is invested in each s
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Kevin has money in two savings accounts. One rate is 13% and the other is 14%. If he has $650 more in the 14% account and the total interest is $226, how much is invested in each s
Log On
Question 1050294: Kevin has money in two savings accounts. One rate is 13% and the other is 14%. If he has $650 more in the 14% account and the total interest is $226, how much is invested in each savings account? Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let n be the amount invested at 13%. Then the amount invested at 14% is n+650. So:
.13n+.14(n+650)=226
.27n=135
n=135/.27=500
$500 is invested at 13%; $1150 is invested at 14%. ☺☺☺☺
(