SOLUTION: you invested a total of php 10,000 at 4 1/2 percent and 5 1/2 percent simple interest. during 1 year the two accounts earned php 508.75 how much did you invest in each account?

Question 977688: you invested a total of php 10,000 at 4 1/2 percent and 5 1/2 percent simple interest. during 1 year the two accounts earned php 508.75 how much did you invest in each account?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
Total amount of money invested: $10000
x+y=10000,
Total yearly interest for the two accounts is: $508.75
0.045*x+0.055*y=508.75
x=10000-y
Substitute for x
0.045*(10000-y)+0.055*y=508.75
Multiply out
450.0-0.045*y+0.055*y=508.75
Combine like terms.
0.01*y=58.75
Isolate y
y=$ 5875.00 at 5.5% earns $323.125 interest
x=10000-y
Calculate x
x=$ 4125.00 at 4.5% earns $185.625 interest
Check
0.045*4125+0.055*5875=508.75
185.625+323.125=508.75
508.75=508.75
If 508.75=508.75 is TRUE and neither x nor y is negative then all is well
codeint1

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