Gabriel invests $6500 in two different accounts. The first account paid 6 %, the second account paid 12 % in interest. At the end of the first year he had earned $546 in interest.

Question

Gabriel invests $6500 in two different accounts. The first account paid 6 %, the second account paid 12 % in interest. At the end of the first year, he had earned $546 in interest. How much was in each account?

Answer 1

'06F + '12S = 546

F+S = 6500

F = 6500-S

.06(6500-S) + .12S = 546

.06S 546 - 390 = 156

S = 156/.06 = $2600 in 12% account

F= 6500-2600 = $3900 in 6% account