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19 May, 19:30

Collin invests 7700 in two different accounts the first paid 2% the second paid 9% in interest at the end of the first year he had earned $315 in interest how much was in each account

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  1. 19 May, 20:44
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    Collin invested $5529 in the account paying 2% and $2171 in the account paying 9% interest.

    Explanation:

    Let x be amount invested at 2%

    So, 7700 - x will be the amount invested at 9%

    0.02 (x) + 0.09 (7800 - x) = 315

    0.02x + 702 - 0.09x = 315

    -0.07x = - 387

    x = $5529

    7700 - x = 7700 - 5529

    = $2171

    Collin invested $5529 in the account paying 2% and $2171 in the account paying 9% interest.
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