SOLUTION: Tyler has two savings accounts that his grandparents opened for him. One of the accounts pay 7% annual interest, whereas the other pays 9% annual interest. If you have $700 more in
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Question 878878: Tyler has two savings accounts that his grandparents opened for him. One of the accounts pay 7% annual interest, whereas the other pays 9% annual interest. If you have $700 more invested at 9% than you invested at 7%, how much do you have invested in each account if the total amount of interest you earn in a year is $127? Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! Tyler has two savings accounts that his grandparents opened for him. One of the accounts pay 7% annual interest, whereas the other pays 9% annual interest. If you have $700 more invested at 9% than you invested at 7%, how much do you have invested in each account if the total amount of interest you earn in a year is $127?
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let x=amount invested in 7% account
700+x=amount invested in 9% account
..
7%x+9%(700+x)=127
.07x+63+.09x=127
.16x=64
x=400
700+x=1100
amount invested in 7% account=$400
amount invested in 9% account=$1100
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