Question 79293: Samuel has a total of $1639 in two different savings accounts. Last year, one saving account paid 2% interest and the other account paid 5.5% interest. If he earned $59.59 in interest for the year, how was his money divided between the two accounts?
Account at 2% interest:$(Blank/answer)
Account at 5.5% interest:$(Blank/answer)
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! Samuel has a total of $1639 in two different savings accounts. Last year, one saving account paid 2% interest and the other account paid 5.5% interest. If he earned $59.59 in interest for the year, how was his money divided between the two accounts?
:
Let x = amt earning 5.5% interest:
:
The total is given as $1639, therefore:
(1639-x) = amt earning 2% interest
:
5.5% int + 2% int = $59,59
:
.055x + .02(1639-x) = 59.59
.055x + 32.78 - .02x = 59.59
.055x - .02x = 59.59 - 32.78
.035x = 26.81
x = 26.81/.035
x = $766 earning 5.5% interest
:
1639 - 766 = $873 earning 2% interest
:
:
Check solutions:
.055(766) + .02(873) =
42.13 + 17.46 = 59.59
:
Did this make sense to you?
|
|
|
