SOLUTION: You spill $1500 between 2 savings accounts. Account A pays 5% annual interest and Account B pays 4% annual interest. After one year, you have earned a total of $69.50 in interest.

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: You spill $1500 between 2 savings accounts. Account A pays 5% annual interest and Account B pays 4% annual interest. After one year, you have earned a total of $69.50 in interest.       Log On


   

Question 1108504: You spill $1500 between 2 savings accounts. Account A pays 5% annual interest and Account B pays 4% annual interest. After one year, you have earned a total of $69.50 in interest. How much money did you invest in each account?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
You spill $1500 between 2 savings accounts.
Account A pays 5% annual interest and Account B pays 4% annual interest.
After one year, you have earned a total of $69.50 in interest.
How much money did you invest in each account?
:
Two equations
A + B = 1500
or
B = (1500-A), use the form for substitution
and
.05(A) + .04(B) = 69.50
:
Replace B with (1500-A)in the above equation
.05(A) + .04(1500-A) = 69.50
.05A + 60 - .04A = 69.50
.05A - .04A = 69.50 - 60
.01A = 9.50
A = 9.5/.01
A = $950 invested in Acct A
:
I'll let you find amt in Acct B.
:
Check by finding the sum of the actual interest earned in each acct.