Question 564908: Dilbert invests a total of $15,500 in two accounts. The first account earned a rate of return of 12% (after a year). However, the second account suffered a 4% loss in the same time period. At the end of one year, the total amount of money gained was $-460.00. How much was invested into each account?
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! Dilbert invests a total of $15,500 in two accounts. The first account earned a rate of return of 12% (after a year). However, the second account suffered a 4% loss in the same time period. At the end of one year, the total amount of money gained was $-460.00. How much was invested into each account?
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let x=amt($) invested in 12% account
$15500-x=amt($) invested in 4% account
..
12%x-4%(15500-x)=460
.12x-620-.04x=460
.16x=1080
x=6750
15500-x=8750
ans:
amt($) invested in 12% account=$6750
amt($) invested in 4% account=$8750
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