SOLUTION: A woman invested 4 times as much at 2% as she did at 6%. The total amount of interest she earns in 1 year from both accounts is $700. How much did she invest at each rate?
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Question 862473: A woman invested 4 times as much at 2% as she did at 6%. The total amount of interest she earns in 1 year from both accounts is $700. How much did she invest at each rate?
She invested $_____ in the 6% account and $_____ in the 2% account. Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! 6%----------------x
2%----------------4x
Interest = 700 / year
6%x+2%(4x)=700
multiply equation by 100
6x+8x=70000
14x=70000
/14
x=5000
$5000 @ 6%
$20000 @ 2%
