SOLUTION: Please help me solve step by step,Thank you! Kristina invests a total of $19,500 in two accounts. The first account earned a rate of return of 8% (after a year). However, the secon

Question 672034: Please help me solve step by step,Thank you! Kristina invests a total of $19,500 in two accounts. The first account earned a rate of return of 8% (after a year). However, the second account suffered a 6% loss in the same time period. At the end of one year, the total amount of money gained was $-1,030.00. How much was invested into each account?
$ was invested at 8%_____________
$ was invested at -6%_____________
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 8.00% per annum ------------- Amount invested =x
Part II -6.00% per annum ------------ Amount invested = y
19500
Interest----- -1030

Part I 8.00% per annum ---x
Part II -6.00% per annum ---y
Total investment
x + 1 y= 19500 -------------1
Interest on both investments
8.00% x + -6.00% y= -1030
Multiply by 100
8 x + -6 y= -103000.00 --------2
Multiply (1) by -8
we get
-8 x -8 y= -156000.00
Add this to (2)
0 x -14 y= -259000
divide by -14
y = 18500
Part I 8.00% $ 1000
Part II -6.00% $ 18500

CHECK
1000 --------- 8.00% ------- 80.00
18500 ------------- -6.00% ------- -1110.00
Total -------------------- -1030.00

m.ananth@hotmail.ca

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