You invested ​$19,000 in two accounts paying 2% and 3% annual​ interest, respectively. If the total interest earned for the year was $390, how much was invested at each​ rate?

Answer 1

.03X + .02(19-X) = .39

.03X -.02X = .39 -.38 = .01

.01X = .01

X = 1 = $1,000 invested at 3%

$18,000 invested at 2%

.03(1) + .02(18) = .39

.03 + .36 = .39