SOLUTION: Sheila invested $50,000 in two accounts last year. One account earned 6% and the other earned 7% annual interest. If the total income last year from these investments was $3350,

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Sheila invested $50,000 in two accounts last year. One account earned 6% and the other earned 7% annual interest. If the total income last year from these investments was $3350,       Log On


   

Question 289114: Sheila invested $50,000 in two accounts last year. One account earned 6% and the other earned 7% annual interest. If the total income last year from these investments was $3350, how much was invested in each account?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.07x+.06(50,000-x)=3,350
.07x+3,000-.06x=3,350
.01x=3,350-3,000=0
.01x=350
x=350/.01
x=35,000 ans. for the 7% investment.
50,000-35,000=15,000 ans. for the 6% investment.
Proof:
.07*35,000+.06*15,000=3,350
2,450+900=3,350
3,350=3,350