SOLUTION: Suppose you invest $10,000 into two accounts. One pays 2% interest and the other 1%. You yield a total of $160 on your investment. How much was put into each account?

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Question 947440: Suppose you invest $10,000 into two accounts. One pays 2% interest and the other 1%. You yield a total of $160 on your investment. How much was put into each account?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose you invest $10,000 into two accounts. One pays 2% interest and the other 1%. You yield a total of $160 on your investment. How much was put into each account?
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Equation:
interest + interest = interest
0.02x + 0.01(10,000-x) = 160
2x + 10000 - x = 16000
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x = 6000 (amt. invested at 2%
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10,000-x = 4000 (amt. invested at 1%
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Cheers,
Stan H.
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