SOLUTION: Harry has $4000 invested in 2 savings accounts. One account earns 6% interest per year, and the other pays 7% per year. If his total interest for the year is $264, how much is inve

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: Harry has $4000 invested in 2 savings accounts. One account earns 6% interest per year, and the other pays 7% per year. If his total interest for the year is $264, how much is inve      Log On


   

Question 40881: Harry has $4000 invested in 2 savings accounts. One account earns 6% interest per year, and the other pays 7% per year. If his total interest for the year is $264, how much is invested at 7%? (The answer is not $264 or $1600)
Thank you
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
.06X+.07(4000-X)=264 OR .06X+280-.07X=264 OR -.01X=-16 OR X=1600 INVESTED @ 6%
THUS 4000-1600=2400 INVESTED @ 7%.
PROOF .06*1600+.07*2400=264 OR 96+168=264 OR 264=264