Wendy invested $6500.00 into two bank accounts, one paying 4% simple interest and the other paying 6%. If her annual interest from the two accounts is $344, how much did she invest at 6%?

Answer 1

x = 4%, y = 6%

x + y = 6500

0.04x + 0.06y = 344

x + y = 6500
4x + 6y = 34400

y = 6500 - x

4x + 6(6500-x) = 34400

4x + 3900 -6x = 34400
-2x + 39000 = 34400

-2x + 39000 -39000 = 34400-39000

-2x = -4600

x = 2300
y = 4200

Answer 2

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