you invested in 4000 in two accounts

you invested in 4000 in two accounts paying 5% and 7% annual interest, respectively. if the total interest earned for the year was 220, how much was invested for each rate?

 

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2 Answers

put up 4000$ & get 5% & 7%, 1 yeers interest=220$

0.05*x +0.07*(4000-x)=220

or 5x+7*(4000-x)=22000

5x-7x +28,000=22,000

-2x=-6,000

x=3000$ at 5%, thus 1000$at 7%

0.05*3000$=150$

0.07*1000=70$
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the answer is 2000
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