invests $7400 in two different accounts. The first account paid 10 %, the second account paid 13 % in interest. At the end of the first year he had earned $902 in interest. How much in each?

Answer 1

902/7400 = about 12.19 % average on both investments at 10% and 13% as 12.19 is closer to 13 than to 10, more of the investment will go to 13%

.13x + .10(7400-x) = 902

.13x -.10x = 902 - 740 = 162

x = 162/.03 = 54/.01 = $5400 invested at 13%

7400-x = $2,000 invested at 10%