You split $1500 between two saving accounts. one pays 4% interest and the other pays 5%. after one year you have earned $69.50in interest. how much was in the 4% account

Question

Spencer Shaffer

Mathematics

1 December, 15:08

You split $1500 between two saving accounts. one pays 4% interest and the other pays 5%. after one year you have earned $69.50in interest. how much was in the 4% account

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Answers (1)

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Miya Li · Answer 1

0.04x+0.05 (1500-x) = 69.5

Solve for x to get the amount invested at 4%

0.04x+75-0.05x=69.5

0.04x-0.05x=69.5-75

-0.01x=-5.5

X=5.5:0.01

X=550 invested at 4%

1500-550=950 invested at 5%