how much is invested in each account

Question

A $5,000 principal is invested in two accounts, one earning 1% interest and another earning 6%

interest. If the total interest for the year is $170, then how much is invested in each account?

Answer 1

.06x + .01(5000-x) = 170

.05x = 170-50 = 120

x = 120(20) = $2400 invested at 6%

5000-x= $2600 invested at 1%

170/5000= 17/500= 34/1000= .034= 3.4%

3.4-1 = 2.4

6-3.4 = 2.6

2.6/2.4 = 13/12 = 2600/2400= 13/12

another check on the solutions:

.06(2400)+ .01(2600)

= 144 +26

= 170

go with $2600 at 1%

$2400 at 6%