you split 1500 between two saving accounts. account A pays 5 percent interest and account b pays 4 percent interest after a year you have earned a total of 69.50 in interest. how much money did you invest in each account?
Let the amount invested @ 5% =A
Let the amount invested @ 4% =B
A + B = 1,500
0.05A + 0.04B =69.50
A = $950 - Invested @ 5%
B = $550 - Invested @ 4%
+37084 x = 5% amount Interest after 1 year = (.05) x
1500-x = 4 percent amount Interest after 1 year = ( .04) (1500-x)
Added together they equal 69.50
(.05)x + (.04) (1500-x) = 69.50
.05x + 60 - .04x = 69.50
x= $950 at 5%
4% amount = 1500 - x = 1500 - 950 = $550
