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Ms. Buxx invested a total of $2000 in two savings accounts. The first account pays 3% interest per year. The second account pays 5% interest per year. If the interest from both accounts totals $84 per year, how much is invested in each account?

 Feb 10, 2020
 #1
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Let tha amount of money in the 3% account  be   A

 

Let the amount of money in the 5% be  ( 2000 - A)

 

And   amount * interest rate  =  total interest

 

So

 

A * 3%  +  (2000 - A) * 5%  =   84      simplify

 

.03A  + 100 - .05A  =  84

 

-.02A  + 100   =  84         subtract  100 from both sides

 

-.02A  =  -16        divide both sides by  -.02

 

A =  800   =  amount in 3% account

 

(2000 - A )  =  (2000 - 800)  =  1200 = amount in 5%  account

 

 

cool cool cool

 Feb 10, 2020

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