Math

posted by .

Paula invested into two accounts; one pays 5% simple interest and the other 6% simple interest. She invested $3000 more in the account paying 6% than in the other account 5%. At the the end of the first year, Paula total return was 730. How much did she invest in each account?

  • Math -

    $PO @ 5%.
    Po+3000) @ 6%.

    I = Po*r*t + (Po+3000)*r*t = $730
    Po*0.05*1 + (Po+3000)*0.06*1 = 730
    0.05Po + 0.06Po+180 = 730
    0.11Po = 730-180 = 550
    Po = $5,000 @ 5%.
    Po+3000 = $8,000 @ 6%.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    jack invested $4000 in two accounts. one pays simple interest at the rate of 5% and the other pays simple interest at the rate of 6%. if jack earned a total of $224 in interest in the first year, how much did he invest in each account?
  2. math

    Suppose $500 is divided into two bank accounts. One account pays 15% simple interest per year and the other pays 10%. After three years there is a total of $200 in interest between the two accounts. How much was invested into the bank …
  3. algebra

    A total of $6200 is deposited into two simple interest accounts. On one account the annual simple interest rate is 2%, and on the second account the annual simple interest rate is 4%. The amount of interest earned for 1 year was $148. …
  4. collage math

    A total of $13,000 is invested in two accounts. One of the two accounts pays 7% per year, and the other account pays 13% per year. If the total interest paid in the first year is $1,390, how much was invested in each account?
  5. Algebra

    Suppose $6,500 is divided into two bank accounts. One account pays 10% simple interest per year and the other pays 4.6%. After two years there is a total of $1000 in interest between the two accounts. How much was invested into the …
  6. algebra

    Dilbert invests a total of $14,000 in two accounts paying 9% and 15% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,350.00. A) Enter an equation that uses the information …
  7. Essex

    An investment club placed $33,000 into two simple interest accounts. On one account, the annual simple interest rate is 6.5%. On the other, the annual simple interest rate is 4.5%. How much should be invested in each account so that …
  8. simple interest

    A total of $12,000 is invested into two simple interest accounts. On one account the annual simple interest rate is 12%, while on the second account the annual interest rate is 18%. How much should be invested at 12% so that the interest …
  9. Math(simple interest)

    Mr.X invested a total of Rs.10,000 in three different accounts, the Accounts paid simple interest at an annual rate of 8%,9% and 7.5% respectively. Total interest earned for the year was Rs.845. The amount in the 9% account was twice …
  10. math

    An investment club placed $36,000 into two simple interest accounts. On one account, the annual simple interest rate is 8.5%. On the other, the annual simple interest rate is 3.5%. How much should be invested in each account so that …

More Similar Questions