math

Mr. Wilson invested money in two accounts. His total investment was $30,000. If one account pays 3% in interest and the other pays 7% in interest, how much does he have in each account if he earned a total of $1,300 in interest in 1 year?

He invested $ in the 3% account and $in the 7% account.

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  1. t = amount at three % , s = amount at seven %

    t + s = 30000 ... 3 t + 3 s = 90000

    .03 t + .07 s = 1300 ... 3 t + 7 s = 130000

    subtracting equations ... 4 s = 40000

    find s , then substitute back to find t

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