document.write( "Question 754162: Suppose $5,000 is divided into two bank accounts. One account pays 5% simple interest per year and the other pays 7% per year. After one year there is a total of $310 in interest between the two accounts. How much was invested into the bank account that pays 7% simple interest (rounded to the nearest cent)? \n" ); document.write( "
Algebra.Com's Answer #458852 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! Suppose $5,000 is divided into two bank accounts. One account pays 5% simple interest per year and the other pays 7% per year. After one year there is a total of $310 in interest between the two accounts. How much was invested into the bank account that pays 7% simple interest (rounded to the nearest cent)? \n" ); document.write( "---------- \n" ); document.write( "Equations: \n" ); document.write( "x + y = 5000 \n" ); document.write( "5x + 7y = 31000 \n" ); document.write( "--------------------- \n" ); document.write( "Modify for elimination: \n" ); document.write( "5x + 5y = 25000 \n" ); document.write( "5x + 7y = 31000 \n" ); document.write( "----- \n" ); document.write( "Subtract and solve for \"y\": \n" ); document.write( "2y = 6000 \n" ); document.write( "y = $3000 (amt. invested at 7%) \n" ); document.write( "================================= \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( "=============== \n" ); document.write( " |