A total investment of $9,600 is made into two savings accounts. One account yields 6% simple interes

label Algebra
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A total investment of $9,600 is made into two savings accounts. One account yields 6% simple interest and the other 8% simple interest. He earns a total of $694.00 interest for the year. How much was invested in the 6% account?

Apr 12th, 2015

Let x = amount invested in the 6% account

then, 9,600 - x = amount invested in the 8% account

0.06x + 0.08(9600 - x) = 694

0.06x + 768 - 0.08x = 694

74 = 0.02x

x = 74/0.02 = $3700

Apr 12th, 2015

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Apr 12th, 2015
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