Problema Solution
You invested $11,000 in two accounts paying 2% and 8% annual interest, respectively. If the total interest earned for the year was $640, how much was invested at each rate?
Answer provided by our tutors
x*2/100 + (11000-x)*8/100 = 640
2x + 88000 - 8x = 64000
x = 4000
So $4000 was invested at rate 2% bank and $7000 was invested at rate 8% bank