math word problems

Question

Corey invests $6000 in two different accounts. The first account paid 7 %, the second account paid 3 % in interest. At the end of the first year he had earned $260 in interest. How much was in each account?

Answer 1

let x = amount invested at 7%

(you can also name the 3% amount x and switch the format below).

6000 - x = amount invested at 3%

.07(x) + .03(6000 - x) = 260

.07x + 180 - .03x = 260

.04x = 80

x = 2000

$2000 invested at 7% (first account) and $4000 invested at 3% (second account) for a total of $6000 invested.

1st account: 2000(.07) = 140

2nd account: 4000(.03) = 120

Both accounts: 140 + 120 = $260 in interest