Question

Walter invested $15,000 in two accounts. The Rowe's Best account paid 6% while the Goings Great account paid 7%. If he earned $980 in interest for the year, how much did he invest in the Rowe's Best account?

Answer 1

980/0.06

Answer 2

nvm

Answer 3

after I divide do I need to find the answer of .07? I got really confused

Answer 4

I have different kind of answer everytime

Answer 5

X=money invested in the Rowe's Best Account
Y=money invested in the Goings Great account
X+Y=15000 ->Y=15000-X
X(6%)+Y(7%)=980
(0.06X)+(15000-X)(0.07)=980 Solve for X

Answer 6

Does this make sense to you?

Answer 7

the first solution I did I have 7500 now I got 6500.I dont know where did I do wrong here

Answer 8

You can try to plug X and Y into X(6%)+Y(7%)=980 see if they are right

Answer 9

(0.06X)+(15000-X)(0.07)=980
X should be = 7000 if u did the math right

Answer 10

how did you get the 7000?can u show me the solution?

Answer 11

0.06X+1050-0.07X=980
-0.01X=-70
X=7000

Answer 12

okey thats help me how you do it thank you so much

Answer 13

No Problem :)