posted by em

You split $1500 between two savings accounts. Account A pays annual 5% interest and Account B pays 4% annual interest. After one year,you have earned a total of $69.50 in interest. How much money did you invest in each account?

  1. Reiny

    amount at 5% --- x
    amount at 4% --- 1500-x

    .05x + .04(1500-x) = 69.50
    times 100
    5x + 4(1500-x) = 6950

    continue, its easy

  2. maya


Respond to this Question

First Name

Your Answer

Similar Questions

  1. math

    Mr. Wilson invested money in two accounts. His total investment was $40,000. If one account pays 4% in interest and the other pays 8% in interest, how much does he have in each account if he earned a total of $2,720 in interest in …
  2. Algebra 1

    You have $6000 to invest in two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interest, how much money did you invest in each account?
  3. pre algebra

    At the beginning of the year 2000, Bob put $100 in a savings account. The bank pays Bob 5% interest on his total savings at the end of each year including all interest added to the account. Assume the interest rate continues and Bob …
  4. Business Algebra

    You invest $20,000 in two accounts. Account A earned 4.5% annual simple interest and Account B earned 6% annual simple interest. the total amount of interest earned for 1 year was $987.50, how much was invested into each account?
  5. Math Personal Finance

    Assume we invest $2000 for one year in a savings account that pays an APR (Annual Percentage Rate) of 10% compounded quarterly. Calculate the interest and compound it by hand each quarter rather than using the compound interest formula. …
  6. Math

    A woman has money in two accounts. One account pays 7% annual interest, whereas the other pays 15% annual interest. If she has $1,500 more invested at 15% than she does at 7% and her total interest for a year is $1,545, how much does …
  7. algebra

    Alice puts money into two accounts, one with 2% annual interest and another with 3% annual interest. She invests 3 times as much in the higher yielding account as she does in the lower yielding account. If her total interest for the …
  8. Algebra

    Kim invested a total of $1500 in two accounts. One account paid 2% annual interest and the other paid 4% annual interest. After one year, Kim earned $44 in interest. How much did she invest in each account?
  9. Math

    A person plans to invest a total of $9000 in an account that pays 3% annual interest and another account which pays 8% annual interest. How much should be invested in each account so that the total interest for one year will be $580.
  10. Algebra

    Jon invested a total of $40,000 in 3 different bank accounts. One pays an annual interest rate of 3%, the second account pays 5% annual interest and the third account pays 6% annual interest. In one year, Jon earned a total of $1960 …

More Similar Questions