Asked by Clayton
Jessica earned a total of $647 in simple interest from two seperate accounts. In an account earning 9% interest, Jessica invested $2,300 more than twice the amount she invested in an account earning 2%. How much did she invest in each account?
Answers
Answered by
Henry
Invested:
Po @ 2%.
(2Po+2300) @ 9%.
t = 1 yr.?
I = Po*r*t + (2Po+2300)*r*t = 647.
Po*0.02*1 + (2Po+2300)*0.09*1 = 647,
0.02Po + 0.18Po + 207 = 647,
0.20Po = 440, Po = $2200.
2Po+2300 = 2*2200 + 2300 = $6700.
Po @ 2%.
(2Po+2300) @ 9%.
t = 1 yr.?
I = Po*r*t + (2Po+2300)*r*t = 647.
Po*0.02*1 + (2Po+2300)*0.09*1 = 647,
0.02Po + 0.18Po + 207 = 647,
0.20Po = 440, Po = $2200.
2Po+2300 = 2*2200 + 2300 = $6700.
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