Randall invests $7200 in two different accounts. The first account paid 11 %, the second account paid 13 % in interest. At the e
nd of the first year he had earned $832 in interest. How much was in each account?
1 answer:
Answer:
Step-by-step explanation:
Let x represent the amount invested in the higher-earning account. Then the investment in the other account is (7200-x), and the total interest is ...
0.13x +0.11(7200 -x) = 832
0.02x = 832 -792 . . . . . . eliminate parentheses, collect terms, subtract 792
x = 40/0.02 = 2000 . . . . divide by the coefficient of x
$2000 was invested at 13%; $5200 was invested at 11%.
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