SOLUTION: Jessica inherited $5500 from her uncle. She deposited part of the money in an account that paid 6% and the rest of the money in a account that paid 5%. The total interest income w
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Question 148167: Jessica inherited $5500 from her uncle. She deposited part of the money in an account that paid 6% and the rest of the money in a account that paid 5%. The total interest income was $311 for 1 year. How much was deposited at each rate? Answer by rajagopalan(174) (Show Source):
You can put this solution on YOUR website! Jessica inherited $5500 from her uncle.
Let She deposit x an account that paid 6%
The rest of the money (5500-x) in an account that paid 5%
The total interest from First Invst=PNR/100= (x*1*6/100)
The total interest from Second Invst=PNR/100= (5500-x)*1*5/100)
Adding both we get ...(x*1*6/100)+ (5500-x)*1*5/100)
(6x/100)+ (5500*5/100)-(5*x/100)=311
(6x/100)+ (275) -(5*x/100)=311
6x..+27500..-5x=31100 (multiply both sides by 100)
6x...-5x=31100-27500
6x-5x=3600
x=3600
one invst=3600
other invst=5500-3600=1900
The investments are 3600 and 1900 $*********
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interest:
3600*1*6/100=216
1900*5/100=95
Toatl int = 216+95=311 $
ok
