SOLUTION: Travis has a total of 6,000 invested in two accounts. The total amount of interest he earns from the accounts in the first year in $380. If one account pays 4% per year and thr oth

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Question 902514: Travis has a total of 6,000 invested in two accounts. The total amount of interest he earns from the accounts in the first year in $380. If one account pays 4% per year and thr other pays 11% per year, how much did he invest in each account?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
We know the total amount of money invested. $6000
x+y=6000,
We know that the total interest for the year for the two accounts is $380
0.04*x+0.11*y=380
x=6000-y
We substitute for x
0.04*(6000-y)+0.11*y=380
We multiply out
240-0.04y+0.11*y=380
We combine like terms.
0.07*y=140
Isolate y
y=2000 at 11%
x=6000-y
Calculate x
x=4000 at 4%
We check
0.04*4000+0.11*2000=380
160+220=380
380=380