Problema Solution
Emma has money in two savings accounts. One rate is 6% and the other is 14%. If she has $150 more in the 14% account and the total interest is $110, how much is invested in each savings account?
Answer provided by our tutors
let
x = the money invested in the 6% account
x + 150 = the money invested in the 14% account
the total interest is $110:
0.06x + 0.14(x + 150) = 110
by solving we find:
x = $445
click here to see the step by step solution of the equation:
x + 150 = 445 + 150 = $595
$445 is invested in the 6% account and $595 is invested in the 14% account.