SOLUTION: Tyler has 2 saving accounts. The 2 accounts pay 10% and 12% in annual interest; there is $500.00 more in the account that pays 12% than there is in the other account. If the tota

Algebra ->  Linear-equations -> SOLUTION: Tyler has 2 saving accounts. The 2 accounts pay 10% and 12% in annual interest; there is $500.00 more in the account that pays 12% than there is in the other account. If the tota      Log On


   

Question 272097: Tyler has 2 saving accounts. The 2 accounts pay 10% and 12% in annual interest; there is $500.00 more in the account that pays 12% than there is in the other account. If the total interest for a year is $214, how much money does he have in each account?
Thank you.
Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
(10%) (x) + (12%) (x + 500) = 214 ___ multiply by 100 to clear percents

10x + 12x + 6000 = 21400

22x = 15400 ___ x = 700 ___ x + 500 = 1200