Question

Suppose you invest a certain amount of money in account that earns 3% annual interest. You also invest that same amount + $2000 that earns 4% annual interest. If the total interest from both accounts at the end of the year is $535, how much has been invested in each account?

Answer 1

First account: $6500
Second account: $8500

Set x is amount of money in first account
=> x + 2000 is money in second account.
X*3% + (x+2000)*4% = 535
=> x = (53500 - 8000) / 7
X = 45500 / 7 = 6500
=> account #1 = x = 6500
Acc #2 = x + 2000 = 6500 + 2000 = 8500