SOLUTION: Last year, Deshaun had 10,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 10% simple int
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Question 1111969: Last year, Deshaun had 10,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total of
$760 in interest. How much did he invest in each account?
First account:____
Second account:____
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Investment I 7.00% per annum
Investment II 10.00% per annum
x + y 10000 ------------------------1
7.00% x + 10.00% y = 760
Multiply by 100
7 x + 10 y = 76000 --------2
Multiply (1) by -7
we get
-7 x -7 y = -70000.00
Add this to (2)
+3 y = 6000.00
divide by 3
y = 2000 investment at 10.00%
Balance 8000 investment at 7.00%
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