Question

Mrs. Mitchell put a total of 10,000 into two accounts. One account earns 6% simple annual interest. The other account earns 6.5% simple interest. After 1 year, the two accounts earned 632.50 interest. Find how much money was invested in each account.

Answer 1

@campbell_st

Answer 2

well if she puts x into 6%

then she has to put 10000 - x into 6.5%

so using the simply interest formula

you have

\[632.5 = 0.06 \times x + 0.065 \times (10000 - x)\]

after disrtibuting and collecting like terms you get

\[632.5 = 650 - 0.005x\]

I'll let you solve for x... the amount invested at 6%

when you get the answer... its 10000 - x for the other investment

hope it makes sense

Answer 3

3500
and
6500

Answer 4

thats it

Answer 5

Thank you!