Problema Solution

Ms. Wilson invested $29,000 in two accounts, one yielding 6% interest and the other yielding 8%. If she received a total of $2,020 in interest at the end of the year, how much did she invest in each account?

Answer provided by our tutors

Ms. Wilson invested $29,000 in two accounts, one yielding 6% interest and the other yielding 8%. If she received a total of $2,020 in interest at the end of the year, how much did she invest in each account?

let investment in 6% = x

investment in 8% = 29000 - x

interest received = 6x/100 + (29000-x)8/100

=> -2x/100 + 2320 = 2020

=> x = 15000

investment in 6% = $15000

investment in 8% = $14000