SOLUTION: You invested $4000 between two accounts paying 2% and 8% annual interest, respectively. If the total interest earned for the years was $260, how much was invested at each rate?
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Question 796210: You invested $4000 between two accounts paying 2% and 8% annual interest, respectively. If the total interest earned for the years was $260, how much was invested at each rate? Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! You invested $4000 between two accounts paying 2% and 8% annual interest, respectively. If the total interest earned for the years was $260, how much was invested at each rate?
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let x=amount invested at 2%
4000-x=amount invested at 8%
..
2%x+8%(4000-x)=260
.02x+320-.08x=260
.06x=60
x=1000
4000-x=3000
amount invested at 2%=$1000
amount invested at 8%=$3000
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