Landon invests $4600 in two different accounts. The first account paid 6 %, the second account paid 3 % in interest.

Question

Landon invests $4600 in two different accounts. The first account paid 6 %, the second account paid 3 % in interest. At the end of the first year he had earned $210 in interest. How much was in each account?

Answer 1

.06(x) + .03(4600 -x) = 210

.03x = 210 - (0.03)(4600 = 210-138= 72

x = 72/,.03 - = $2400 at 6%

4600-2400 = $2200 at 3%

210/4600 = 21/460 = an average return about 4.6% which a little closer to 6 than 3%, midpoint = 4.5%, so you need a little 4600/2 more of 6%, a little more than $2300 for 6%. 2400 is a little more than 2300

if half were invested at each rate $2300, then the average return would have been 4.5% with a return of .045(4600) = $207, but the return was $210, more than $207, so a little more must have been invested at 6% than at 3%