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Q: \$1,500 is invested in two different accounts paying 4% and 5% interest. If a total of \$67 interest is earned after one year, then how much money was invested at 4%?
A: We know that 1500 was invested total. [ We're trying to solve for the amount put into the 4% account. Let's say that F was put in the 4% account (F for Four percent) so the remaining money, or 1500 - F, was put into the 5% account. initial deposits 4%- F 5%- -1500 - F now, let's work it with words total interest earned = interest from 4% account + interest from 5% account total interest = (amt.
invested)(% interest) + (amount invested)(% interest) 67 = F(4%) + (1500 - F)(5% 67 = F(0.04) + (1500 - F)(0.05) 67 = F(0.04) + (1500)(0.05) - (F)(0.05) 67 = 0.04F + 75 - 0.05F 67 - 75 = 0.04F - 0.05F -8 = -0.01F -8 / -0.01 = F F = 800 So \$800 was invested in the 4% account (which means that 1500 - 800 = \$700 was invested in the 5% account). Check: 800 * 0.04 = 32 700 * 0.05 = 35 32 + 35 = 67 (There's our \$67 total interest) ; Therefore \$800 was invested @ 4% interest. ]
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