Question

Ms. Walsh invested $26,000 in two accounts, one yielding 8% interest and the other yieiding 11%. If she received a total of $2,320 in interest at the end of the year, how much did she invest in each account? The amount invested at 8% was $

Answer 1

.08x + .11(26,000 - x) = 2,320

.08x + 2,860 - .11x = 2,320

.03x = 540

x = $18,000 in 8% account

$26,000 - $18,000 = $8,000 in 11% account