SOLUTION: Please help me with these two problems! Jose has \$20,000 to invest. He invests x dollars at 4% and the rest at 4.5%. Write an equation for the total amount of money Jose will

Algebra ->  Algebra  -> Equations -> SOLUTION: Please help me with these two problems! Jose has \$20,000 to invest. He invests x dollars at 4% and the rest at 4.5%. Write an equation for the total amount of money Jose will       Log On

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 Question 429688: Please help me with these two problems! Jose has \$20,000 to invest. He invests x dollars at 4% and the rest at 4.5%. Write an equation for the total amount of money Jose will have in one year. Suppose at the end of the year, Jose has \$20,860. How much money did Jose invest in each account? Thank you sooo much!!!Answer by stanbon(57361)   (Show Source): You can put this solution on YOUR website!Please help me with these two problems! Jose has \$20,000 to invest. He invests x dollars at 4% and the rest at 4.5%. Write an equation for the total amount of money Jose will have in one year. Suppose at the end of the year, Jose has \$20,860. How much money did Jose invest in each account? ----------------------- Equations: Quantity Eq.: x + y = 20,000 Interest Eq.:0.040x+0.045y = 860 -------------------------------- Multiply thru Quantity by 40 Multiply thru Interest by 1000 ---------- 40x + 40y = 800,000 40x+45y = 860,000 -------------------------------- Subtract and solve for "y": 5y = 60,000 y = 12,000 (amt. invested at 4.5% --- Solve for "x": x + y = 20,000 x = 28,000 (amt. invested at 4%) ============================ Cheers, Stan H. ===========================