SOLUTION: Please help me solve this problem. I cannot figure it out no matter how I hard I try. Interest of $322 is needed from 2 saving accounts. The total amount invested is $7600. Some is

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Please help me solve this problem. I cannot figure it out no matter how I hard I try. Interest of $322 is needed from 2 saving accounts. The total amount invested is $7600. Some is      Log On

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Question 243373: Please help me solve this problem. I cannot figure it out no matter how I hard I try. Interest of $322 is needed from 2 saving accounts. The total amount invested is $7600. Some is invested at 5% and the rest is invested at 4%. How much is invested at each rate? Thankyou if you can help.
Found 2 solutions by stanbon, edjones:
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Interest of $322 is needed from 2 saving accounts. The total amount invested is $7600. Some is invested at 5% and the rest is invested at 4%. How much is invested at each rate?
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Equation:
interest + interest = interest
0.05x + 0.04(7600-x) = 322
Multiply thru by 100 to get:
5x + 4*7600 - 4x = 32200
x = $1800 (amt. invested at 5%)
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7600-x = 7600-1800 = $5800 (amt. invested at 4%)
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Cheers,
Stan H.

Answer by edjones(8007) About Me  (Show Source):
You can put this solution on YOUR website!
Let x=amt at 5% and 7600-x at 4%
.05x+.04(7600-x)=322
.05x+304-.04x=322
.01x=18
x=$1800.
7600-1800=$5800.
.
Ed