SOLUTION: Joy invests a total of $33,000 in two accounts paying 9% and 8% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $2,7
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Question 807977: Joy invests a total of $33,000 in two accounts paying 9% and 8% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $2,780.00.
How much was invested at 9% and how much was invested at 8%? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 9.00% per annum ------------- Amount invested =x
Part II 8.00% per annum ------------ Amount invested = y
33000
Interest----- 2780.00
Part I 9.00% per annum ---x
Part II 8.00% per annum ---y
Total investment
x + 1 y= 33000 -------------1
Interest on both investments
9.00% x + 8.00% y= 2780
Multiply by 100
9 x + 8 y= 278000.00 --------2
Multiply (1) by -9
we get
-9 x -9 y= -297000.00
Add this to (2)
0 x -1 y= -19000
divide by -1
y = 19000
Part I 9.00% $ 14000
Part II 8.00% $ 19000
