Question

Lydia has money in two savings accounts. One rate is 7% and the other is 13%. If she has $300 more in the 13% account and the total interest is $252, how much is invested in each savings account?

Answer 1

Answer:

• 7%: $1065
• 13%: $1365

Step-by-step explanation:

If x represents the amount invested at 7%, then the amount invested at 13% is x+300. Lydia's total interest is ...

  0.07x +0.13(x +300) = 252

  0.20x = 213 . . . . . subtract 39

  x = 213/0.20 = 1065

Lydia has $1065 invested at 7% and $1365 invested at 13%.