SOLUTION: 62. Mrs. Chavez invested $6000. She invested the money in two accounts-one with a 4% simple interest and the other with a 6% simple interest. At the end of the year, the total amou
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Question 174712This question is from textbook California Algebra 2
: 62. Mrs. Chavez invested $6000. She invested the money in two accounts-one with a 4% simple interest and the other with a 6% simple interest. At the end of the year, the total amount she earned in interest was $320. How much did Mrs. Chavez invest in each account? This question is from textbook California Algebra 2
You can put this solution on YOUR website! lets call the amount invested at 4% and 6%, a and b respectively
:
a+b=6000.........eq 1
.04a+.06b=320....eq 2
:
rewrite eq 1 to a=6000-b and place that value into eq 2
:
.04(6000-b)+.06b=320
:
240-.04b+.06b=320
:
.02b=80
: dollars invested at 6%
: dollars invested at 4%
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