SOLUTION: Dilbert invests a total of $35,500 in two accounts paying 5% and 7% annual interest, respectively. How much was invested in each account if, after one year, the total interest was
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Question 1027132: Dilbert invests a total of $35,500 in two accounts paying 5% and 7% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $2,105.00.
______$ was invested at 5% and
_______$ was invested at 7%. Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 5.00% per annum ------------- Amount invested =x
Part II 7.00% per annum ------------ Amount invested = y
35500
Interest----- 2105
Part I 5.00% per annum ---x
Part II 7.00% per annum ---y
Total investment
x + 1 y= 35500 -------------1
Interest on both investments
5.00% x + 7.00% y= 2105
Multiply by 100
5 x + 7 y= 210500.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -177500.00
Add this to (2)
0 x 2 y= 33000
divide by 2
y = 16500
Part I 5.00% $ 19000
Part II 7.00% $ 16500
