SOLUTION: Igor invested $8000 in two accounts paying 1% and 5% annual interest respectively. If the total interest earned for the year was $320, how much was invested at each rate?

Question 1094759: Igor invested $8000 in two accounts paying 1% and 5% annual interest respectively. If the total interest earned for the year was $320, how much was invested at each rate?
Answer by ikleyn(52832)   (Show Source): You can put this solution on YOUR website!
.
Read the lesson
    - Using systems of equations to solve problems on investment
in this site. You will find there the solution of similar problem with detailed explanations.

Consider it as a sample/template/prototype. Read it attentively.
Then solve your problem by substituting your data.
In this way you will learn the method.

Good luck and happy learning !!

Also, you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".

Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

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