Saori Yamachi invested some money in an account earning 7.4% simple interest and twice that amount in an account earning 9% simple interest. She earned $1016 in interest after 1 year. How much did Saori invest in each account?

Nelson Jennings

Nelson Jennings

Answered question

2022-07-25

Saori Yamachi invested some money in an account earning 7.4% simple interest and twice that amount in an account earning 9% simple interest. She earned $1016 in interest after 1 year. How much did Saori invest in each account?

Answer & Explanation

eyiliweyouc

eyiliweyouc

Beginner2022-07-26Added 15 answers

Let P amount in invested in account 1, and 2P amount is invested in account 2.
Interest earned in Account = P R T 100 = P × 7.4 × 1 100
Interest earned in account 2 = 2 P × 9 × 1 100
Total interest earned =$1016
P × 7 4 × 1 100 + 2 p × 9 × 1 100 = 1016 P 100 ( 7 4 + 18 ) = 1016 P = 1016 × 100 25 4 = $ 4000

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