Laura invests $2500 in one account and $1500 in an account paying 2 % higher interest. At the end of one year she had earned $11
0 in interest. At what rates did she invest?
1 answer:
Answer:
$2500 - 2%
$1500 - 4%
Step-by-step explanation:
Say the interest for the $2500 is x, so the interest for the $1500 is x+0.02.
As an equation, they would look like this:
2500x+1500(x+0.02)=110
Now solve
2500+1500x+30=110
4000x=80
x=0.02
That means the interest for the $2500 is 0.02, or 2%, and the interest for the $1500 is 0.04, or 4%.
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