SOLUTION: you invested $18,000 in two accounts paying 5% and 9% annual interest. if the total interest earned for the year was $1380, how much was invested at each rate?

SOLUTION: you invested $18,000 in two accounts paying 5% and 9% annual interest. if the total interest earned for the year was $1380, how much was invested at each rate?

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Question 899153: you invested $18,000 in two accounts paying 5% and 9% annual interest. if the total interest earned for the year was $1380, how much was invested at each rate?

Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
x+y=18000,
0.05*x+0.09*y=1380
x=18000-y
0.05*(18000-y)+0.09*y=1380
900.0-0.05y+0.09*y=1380
0.04*y=480.0
y=12000.0
x=18000-y
x=6000.0 y=12000.0

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