Question 1109716: Johnny invested $20,000. A portion returned 5% and another portion returned 8%. The total interest earned on the investment was $1150. Write a system of equations for this situation and determine how much of the original investment was invested at the 5% rate and how much was invested at the 8% rate.
Answer: Let x be the amount invested that earned 5% and y be the amount invested that earned 8%. System of equations:
1st equation:
2nd equation:
Solution: x = $ , y = $ .
Answer by greenestamps(13200)   (Show Source):
You can put this solution on YOUR website!
Johnny invested $20,000. A portion returned 5% and another portion returned 8%. The total interest earned on the investment was $1150.
Write a system of equations for this situation and determine how much of the original investment was invested at the 5% rate and how much was invested at the 8% rate.
Answer: Let x be the amount invested that earned 5% and y be the amount invested that earned 8%.
System of equations:
1st equation: says that the total of the two amounts x and y is the total amount invested, which is $20,000.
2nd equation: says that the total amount of interest -- 5% of x (i.e., .05*x), plus 8% of y (i.e., .08*y) -- is $1150.
Solution:
That's for you to do....
x = $ , y = $ .
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