College Algebra

Robert invested $10000 and earned a total of $550 interest. He invested part of the $10000 in an account paying 5% and rest in an account paying 6%. How much did he invest in each account.

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  1. (x * .05) + [(10000 - x) * .06] = 550

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  2. if x at 5% then the rest (10000-x) is at 6%. So, add up the interest:

    .05x + .06(10000-x) = 550

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  3. .05x +.06(10,000-x) = 550
    .05 x + 600 -.06 x = 550

    50 = .01 x
    x = 5000

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