Question 1118746: Ms. Brown invested $24,000 in two accounts, one yielding 5% interest and the other yielding 12%. If she received a total of $1,900 in interest at the end of the year, how much did she invest in each account?
Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! At 5%: x
At 12%: 24000-x
0.05x + 0.12(24000-x) = 1900
0.05x + 2880-0.12x = 1900
-0.07x = -980
x = 14,000
Ms. Brown invested 14,000 at 5% and 24,000-14,000 = 10,000 at 12%
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Check:
14,000(0.05) + 10,000(0.12) = 1,900
700 + 1,200 = 1,900 Correct
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