Question

Katy invests a total of $13,000 in two accounts paying 2% and 7% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $310.00.
Invested at 2%___?
Invested at 7%___?

Answer 1

Answer:

2 % amount = 12000     7% amount = 1000 dollars

Step-by-step explanation:

x = 2% amount

 then  13 000 - x  = 7% amount

.02x   + .07 (13000-x)  = 310

-.05x + 910 = 310

.05x = 600

x = 600/.05 = 12000      then the 7% amount is 1000