SOLUTION: Lydia has money in two savings accounts. One rate is 5% and the other is 10%. If she has $350 more in the 10% account and the total interest is $347, how much is invested in each
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-> SOLUTION: Lydia has money in two savings accounts. One rate is 5% and the other is 10%. If she has $350 more in the 10% account and the total interest is $347, how much is invested in each
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Question 958811: Lydia has money in two savings accounts. One rate is 5% and the other is 10%. If she has $350 more in the 10% account and the total interest is $347, how much is invested in each savings account? Answer by macston(5194) (Show Source):
You can put this solution on YOUR website! .
F=amount in 5%; T=amount in 10%=F+$350
0.05F+0.10T=$347 Substitute for T
0.05F+0.10(F+$350)=$347
0.05F+0.10F+$35=$347 Subtract $35 from each side.
0.15F=$312 Divide each side by 0.15
F=$2080 ANSWER 1:She has $2080 in the 5% account.
T=F+$350=$2080+$350=$2430 ANSWER: She has $2430 in the 10% account
CHECK:
0.05F+0.10T=$347
0.05($2080)+0.10($2430)=$347
$104+$243=$347
$347=$347
