Question 394917: Dinero has money in two different account. Part of the money is invested in an account that earns 4.5% interest. In a second account, which pays 3% interest, he invests $1000 less than twice the amount in the first account. If he earns a total of $1020, how much is invested in each account?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Dinero has money in two different account. Part of the money is invested in an account that earns 4.5% interest. In a second account, which pays 3% interest, he invests $1000 less than twice the amount in the first account. If he earns a total of $1020, how much is invested in each account?
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4.5% interest. ------------ $x
second account 3% ----------(2x-1000)
total interest = $1020,
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4.5x+3(2x-1000)= 1020*100
4.5x+6x-3000=102000
10.5x=105000
/10.5
x= $ 10,000 @ 4.5% interest
(2x-10,1000)= (2*10,000-1000)= $19000 @ 3 %
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m.ananth@hotmail.ca
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