Problema Solution
harriet has 4000 invested in two saving accounts. one account earns 6% interest per year, the other pays 7% per year if total interest per year is 264 how much invested at each rate?
Answer provided by our tutors
0.06(x) + 0.07(y) = 264
x+y = 4000
0.06x + 0.06y = 240
0.01y = 24
y = 2400
x = 4000 - 2400 = 1600