+0  
 
0
472
2
avatar

John invests a total of $4,500 in two accounts paying 10% and 3% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $205.00.

 Feb 21, 2016
 #1
avatar+129849 
+5

Call the amount in one acct  [ doesn't matter which one], x

 

Call the amount in the other acct   4500 - x    and we have

 

.10x  + .03(4500 - x)  = 205     simplify

 

.10x + 135  - .03.x   = 205

 

.07x + 135  = 205     subtract 135 from both sides

 

.07x =  70       divide boh sides by  .07

 

x = $1000  this was the amount in the 10% account

 

So  4500 - 1000  = $3500  = the amount in the 3% acct

 

 

 

cool cool cool

 Feb 21, 2016
 #2
avatar
0

You have way too much time on your hands CPhill

 Feb 21, 2016

1 Online Users