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18 October, 09:57

Zack has two savings accounts with a total of $9,000. he withdrew 10% from one and 60% from the other to buy his girlfriend an engagement ring. if the ring cost $2,175, find the remaining balance in each account.

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  1. 18 October, 12:36
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    Originally,

    Let x = the balance in the first account.

    Let y = the balance in the second account.

    The total amount in the two accounts is $9,000, therefore

    x + y = 9000 (1)

    Zack withdraws 10% of x and 60% of y for a total of $2,175.

    Therefore

    0.1x + 0.6y = 2175

    or

    x + 6y = 21750 (2)

    Subtract (1) from (2).

    x + 6y - (x + y) = 21750 - 9000

    5y = 12750

    y = 2550

    From (1), obtain

    x = 9000 - 2550 = 6450

    The balance in the first account is

    0.9*x = 0.9*6450 = $5,805

    The remaining balance in the second account is

    0.4*y = 0.4*2550 = $1,020

    Answer:

    The balance in the first account is $5,805

    The balance in the second account is $1,020
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