SOLUTION: Ruth invest $10,000 dollarsin two accounts. one account has an annual interest rate of 7%, and the other account has an annual interest rate of 5%. Let I represent the total intere

Question 75189: Ruth invest $10,000 dollarsin two accounts. one account has an annual interest rate of 7%, and the other account has an annual interest rate of 5%. Let I represent the total interest earned in one year. Then Ruth's investemnt can be modeled by the system of equations x+y=10,000 and 0.07x=0.05y=I.
a. determind a solution fo this system of equations that represents a possible investment, and find the value of I that corresponds to your solution.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Ruth invest $10,000 dollarsin two accounts. one account has an annual interest rate of 7%, and the other account has an annual interest rate of 5%. Let I represent the total interest earned in one year. Then Ruth's investemnt can be modeled by the system of equations x+y=10,000 and 0.07x+0.05y=I.
-----------------------------------
a. determin a solution fo this system of equations that represents a possible investment, and find the value of I that corresponds to your solution.
-------------
Let amount invested at 7% be "x" ; Interest is 0.07x dollars
Let amount invested at 5% by "y" ; Interest is 0.05y dollars
--------
equations x+y=10,000 and 0.07x+0.05y=I
x=10000-y
0.07(1000-y)+0.05y =I
7000-0.02y=I
y=(7000-I)/0.02
--------------
Substitute any number you want for "I" and you can solve for "y" and then "x".
Cheers,
Stan H.
RELATED QUESTIONS
Juanita has 28,000 to invest in two accounts that pay simple interest on an annual basis. (answered by richwmiller)

A teenager has $10,000 invested in a checking account paying 2.5% per year and a savings (answered by math_helper)

Juanita has $24,000 to invest in two accounts that pay simple interest on an... (answered by lwsshak3)

Madel has PHP25,000 and she invested it into two accounts. One account earns 7% interest... (answered by ikleyn)

I am having a problem of putting the following into an linear equation. A company... (answered by htmentor)

An investor has a total of $10,000 to deposit in two simple interest accounts. On one... (answered by macston)

an investor will invest a total of $12000 on two accounts, one paying 5% annual simple... (answered by lwsshak3)

Juanita has 22000 to invest in two accounts that pay simple interest on an annual basis.... (answered by mananth)

A woman has invested money in two accounts. Part of the money is invested in an account... (answered by mananth)