SOLUTION: A total investment of $10,400is made into two savings accounts. One account yields 6% simple interest and the other 8% simple interest. He earns a total of $784.00interes

Algebra ->  Finance -> SOLUTION: A total investment of $10,400is made into two savings accounts. One account yields 6% simple interest and the other 8% simple interest. He earns a total of $784.00interes      Log On


   

Question 1006586:


A total investment of $10,400is made into two savings accounts. One account yields 6% simple interest and the other 8% simple interest. He earns a total of $784.00interest for the year. How much was invested in the 6% account?
Answer by josgarithmetic(39613) About Me  (Show Source):
You can put this solution on YOUR website!
The two quantities of invested money are x and y;
system%28x%2By=10400%2C0.06x%2B0.08y=784%29

This system is much the same form as two-part mixture problems.

Try to simplify the appearance of the interest equation.
Multiplying its members by 50 will give whole number coefficients.
3x%2B4y=39200

Summary of the modified but equivalent system:
system%28x%2By=10400%2C3x%2B4y=39200%29
You do the rest.