SOLUTION: I really need help. I do not understand how to solve this at all:
A man invests his savings in 2 accounts, one paying ^5 per year and the other %. He has twice as much invested in
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-> SOLUTION: I really need help. I do not understand how to solve this at all:
A man invests his savings in 2 accounts, one paying ^5 per year and the other %. He has twice as much invested in
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Question 675252: I really need help. I do not understand how to solve this at all:
A man invests his savings in 2 accounts, one paying ^5 per year and the other %. He has twice as much invested in the 7% account as in the 6% account, and his annual interest income is $600. How much is invested in each account? Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! Establish variables
x = $ in 6% account
y = $ in 7% account
...
y = 2x
.06x + .07y = 600
...
Substitute 2x for y in the second equation
.06x + .07(2x) = 600
.06x + .14x = 600
.2x = 600 at 6%
... at 7%
.....................
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