Thursday, December 8, 2011

Liz is saving money for his college education. He deposited some money in a savings account paying 5% & $1200?

less than that amount in a second account paying 4%. The two accounts produced a total of 141 interest in 1 yr. How much did he invest?|||total interest is the amount earned on both accounts = i





i1 is amount earned on account 1, i2 on account 2.





i = i1 + i2





i1 = 5% of $1200, or .05 * 1200 = 60





i2 = 141 - 60 = 81


81 = 4% of x or .04 * x


81/.04 = x


2025 = x





total investment = 2025 + 1200

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