Question 319922: you invested 5000 in two accounts paying 4% and 7% annual interest, respectively. if the total interest earned for the year was 320 how much was invested at each rate
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! .07x+.04(5,000-x)=320
.07x+200-.04x=320
.03x=320-200
.03x=120
x=120/.03
x=$4,000 invested @ 7%
5,000-4,000=$1,000 invested @ 4%.
Proof:
.07*4,000+04*1,000=320
280+40=320
320=320
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