##### Elementary Algebra Question

 Algebra Tutor: None Selected Time limit: 1 Day

Jane saved \$3,200 in two separate accounts. One account earns 4% annual interest and the other earns 5.2% in annual interest. If her total interest for the year was \$140, then how much was in each account.

May 16th, 2015

Let us call the first account Account A and the money in it \$x.

Let us also call the second account Account B and the money in it \$y.

From the given information, we know that 4% of the money in account A add 5.2% of the money in account B makes up \$140. Therefore, we get the equation: 0.04x + 0.052y = \$140. Let's call this equation 1.

Also, we know that x + y = \$3200, since this is the total amount of money. Let's call this equation 2.

If we rearrange equation 2 we get y = 3200 - x.

We then substitute back into equation 1 to solve for x:

0.04x + 0.052(3200 - x) = 140  ==>  0.04x + 166.4 - 0.052x = 140  ==>  -0.012x = -26.4  ==>  x = \$2200.

Also, y = 3200 - 2200 = \$1000.

Therefore, Account A has \$2200 and Account B has \$1000.

May 16th, 2015

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May 16th, 2015
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May 16th, 2015
Dec 11th, 2016
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