Donna invested money in two accounts: one paying 4% simple interest and the other paying 3% simple interest. She invested $4000 more in the 4% account than in the 3% account. If she received $720 in interest at the end of 1 yr how much did she invest in each account?

Is this how I would set up the problem?;
.03x + .04 (4000 - x) = 720 ?

Question

Donna invested money in two accounts: one paying 4% simple interest and the other paying 3% simple interest. She invested $4000 more in the 4% account than in the 3% account. If she received $720 in interest at the end of 1 yr how much did she invest in each account?

Is this how I would set up the problem?;
.03x + .04 (4000 - x) = 720 ?

parthkohli · Answer

Umm, yes, except the $4000 - x$ part.
It must be $x + 4000$.

anonymous · Answer

Thank you!

parthkohli · Answer

You're welcome, and maybe I have the wrong idea... maybe because I'm famous for giving out wrong answers :|

anonymous · Answer

I'll try it and see if it works.

parthkohli · Answer

You do know how it's $x + 4000$, right? That's because the 4% account had 4000 dollars more.

anonymous · Answer

I do now.. Lol -I despise word problems. :\

parthkohli · Answer

Same here.

anonymous · Answer

It worked. Thank you @ParthKohli! :)

parthkohli · Answer

You're welcome =)