A service club is selling raffle tickets for 2.50 each to raise money for a charity. Vanessa has 34.75 to spend on raffle ticket
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Answer:
The amount in the account at 12% interest is $3400 and the amount in the second account at 7% interest is $2600
Step-by-step explanation:
Let x be the amount in the account at 12% interest
So, 6000-x is the amount in the second account at 7% interest
First account:
Second account :
We are given that At the end of the first year he had earned $590 in interest.
So,
So,the amount in the account at 12% interest is $3400
The amount in the second account at 7% interest =6000-x=6000-3400=2600
Hence the amount in the account at 12% interest is $3400 and the amount in the second account at 7% interest is $2600