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Mr. Walker invested $65,100 in two banks, one paying 4.5% and the other 6%. If he gets $231 more on the 6% investment than that on the 4.5% investment, find the total annual income from the banks. URGENT PLS <3

Respuesta :

Aliwohaish12
0.06x=0.045(65100-x)+231
Solve for x
X=30100
Find the amount of interest in each account
0.06(30100)=1806 first account
0.045(65100-30100)=1575 sec account
Total interest=1,806+1,575=3,381

The total annual income is $210,700.

Interest rate

It is the amount of lender percentage of the principal.

Given

Invested $65,100 in two banks at a rate of 6% and 4.5%.

How to calculate total annual income?

he gets $231 more on the 6% investment than that on the 4.5% investment.

Mathematically, it is written.

[tex]\begin{aligned}0.06 (x) &= 0.045(65,100-x) + 231\\ 0.06x &= 2929.5 - 0.045x +231\\ 0.015x &= 3160.5\\ x &= \dfrac{3160.5}{0.015} \\ x &= 210,700\\ \end{aligned}[/tex]

Thus, total annual income is $210,700

To more about the Interest rate link is given below.

https://brainly.com/question/4626564

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