How much did he invest at each rate?

Question

Joe deposited money in a savings acc paying 5% and $1200 less than that amount in a second acc paying 4%. The two accounts produced a total of $141 interest in 1 yr.

Answer 1

here's the equation.

x = the unknown amount.

0.05x + 0.04 (x -1200) = 141.

0.05x + 0.04x - 48 = 141.

0.09x = 189

x = 2100.

so 2100 @ 5% account and 900 @ 4% account.