Sam invests $6000 in two different accounts. The first account paid 12 %, the second account paid 7 % in interest. At the end of the first year he had earned $590 in interest. How much was in each account? $_ at 12% $_ at 7%

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wifilethbridge wifilethbridge · Answer 1 · 2020-07-08T19:55:44+02:00

Answer:

The amount in the account at 12% interest is $3400 and the amount in the second account at 7% interest is $2600

Step-by-step explanation:

Let x be the amount in the account at 12% interest

So, 6000-x is the amount in the second account at 7% interest

[tex]SI = \frac{P \times T \times R}{100}[/tex]

First account:[tex]SI=\frac{x \times 1 \times 12}{100}[/tex]

Second account : [tex]SI =\frac{(6000-x) \times 1 \times 7}{100}[/tex]

We are given that At the end of the first year he had earned $590 in interest.

So, [tex]\frac{x \times 1 \times 12}{100}+\frac{(6000-x) \times 1 \times 7}{100}=590\\x=3400[/tex]

So,the amount in the account at 12% interest is $3400

The amount in the second account at 7% interest =6000-x=6000-3400=2600

Hence the amount in the account at 12% interest is $3400 and the amount in the second account at 7% interest is $2600