Question

Melody invested $7,500 into two accounts. One account paid 5% interest and the other paid 7.5% interest. She earned 6% interest on the total investment. How much money did she put in each account?

Answer 1

The amount put in the account that paid 5% was $4,500 and the amount put in the account that paid 7.5% was $3,000

Explanation:

Let

x -----> the amount put in the account that paid 5%

$7,500-x -----> the amount put in the account that paid 7.5%

in this problem we have

`6\%=6/100=0.06`

`5\%=5/100=0.05`

`7.5\%=7.5/100=0.075`

so

`7,500(0.06)=x(0.05)+(7,500-x)0.075`

`450=0.05x+562.5-0.075x`

`0.075x-0.050x=562.5-450`

`0.025x=112.5`

`x=\$4,500`

`\$7,500-x=\$3,000`

therefore

The amount put in the account that paid 5% was $4,500 and the amount put in the account that paid 7.5% was $3,000