James invests $5400 in two different accounts. The first account paid 14 %, the second account paid 6 % in interest. At the end of the first year he had earned $580 in interest. How much was in each account?

Given:

Total invested amount = $5400

Rate of interest for first account = 14%

Rate of interest for second account = 6%

Total interest after one year = $580

To find:

The amount invested in each account.

Solution:

Let the amount invested in the first account be $x, then the amount invested in the second account is $(5400-x).

Total interest = 14% of $x + 6% of $(5400-x).

Multiply both sides by 100.

Divide both sides by 8.

Now,

Therefore, the amount invested in first account is $3200 and the amount invested in the second account is $2200.

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step-by-step explanation:

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