SOLUTION: Joan is saving money for her college education. She deposited some money in a savings account paying 5% and $1200 less than that amount in a second account paying 4%. The two accou
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Question 961325: Joan is saving money for her college education. She deposited some money in a savings account paying 5% and $1200 less than that amount in a second account paying 4%. The two accounts produced a total of $141 in a year. How much did she invest at each rate? Answer by dkppathak(439) (Show Source):
You can put this solution on YOUR website! Joan is saving money for her college education. She deposited some money in a savings account paying 5% and $1200 less than that amount in a second account paying 4%. The two accounts produced a total of $141 in a year. How much did she invest at each rate?
solution
let x at the rate of 5%
and x-1200 at the rate of 4%
5% of x+4% (x-1200)=141
5x/100 +4(x-1200)/100=141
5x+4x-4800/100=141
9x-4800=14100
9x=14100+4800
9x=18900
x=18900/9=2100
answer $2100 @ 5% and $900 @4%
