somone put 1500 dollars in two accounts and earned about 5% and the other 2% profit.

They earned a total of 60 dollars.

How much was put into each account from the start?

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- Dec 9th 2012, 05:48 AMrcmangointerest problem.
somone put 1500 dollars in two accounts and earned about 5% and the other 2% profit.

They earned a total of 60 dollars.

How much was put into each account from the start? - Dec 9th 2012, 06:06 AMskeeterRe: interest problem.
$\displaystyle .05x + .02(1500 - x) = 60$

solve for x, the amount in the 5% account, then determine the amount in the 2% account - Dec 9th 2012, 06:29 AMHallsofIvyRe: interest problem.
Another way of looking at it:

let "x" be the amount of money put into the 5% account and let "y" be the amount of money put into the 2% account.

The amount earned by the first account is .05x and the amount earned by the second account is .02y.

So x+ y= 1500.

Quote:

and earned about 5% and the other 2% profit.

They earned a total of 60 dollars.

Quote:

How much was put into each account from the start?

- Dec 9th 2012, 01:19 PMrcmangoRe: interest problem.
Thanks Ivy, I definitely can see it this way.