SOLUTION: Brianna invests $2400 in one account and $1900 in an account paying 2 % higher interest. At the end of one year she had earned $382 in interest. At what rates did she invest?
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Question 956490: Brianna invests $2400 in one account and $1900 in an account paying 2 % higher interest. At the end of one year she had earned $382 in interest. At what rates did she invest? Answer by macston(5194) (Show Source):
You can put this solution on YOUR website! I=lower interest rate (decimal)
$2400I+$1900(I+.02)=$382
$2400I+$1900I+$38=$382 Subtract $38 from each side
$4300I=$344 Divide each side by $4300
I=0.08 ANSWER 1: The lower rate was 8%.
I+2%=8%+2%=10% ANSWER 2: The higher rate was 10%.
CHECK:
$2400(0.08)+$1900(0.10)=$382
$192+$190=$382
$382=$382
