Problema Solution
Ms. Burke invested $22,000 in two accounts, one yielding 5% interest and the other yielding 8%. If she received a total of $1,220 in interest at the end of the year, how much did she invest in each account?
Answer provided by our tutors
Let Ms. Burke invested x in 5% interest account.
and 22000-x in 8% account.
So, 0.05x+(22000-x)(0.08)=1220
0.05x+1760-0.08x=1220
-0.03x=-540
x=18000
So, Ms. Burke invested $18,000 in 5% interest account and $4000 in 8% account.