SOLUTION: Last year, Deshaun had 10,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 10% simple int

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Last year, Deshaun had 10,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 10% simple int      Log On


   



Question 1111969: Last year, Deshaun had 10,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total of
$760 in interest. How much did he invest in each account?
First account:____
Second account:____

Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Investment I 7.00% per annum
Investment II 10.00% per annum

x + y 10000 ------------------------1
7.00% x + 10.00% y = 760
Multiply by 100
7 x + 10 y = 76000 --------2

Multiply (1) by -7
we get

-7 x -7 y = -70000.00

Add this to (2)
+3 y = 6000.00

divide by 3

y = 2000 investment at 10.00%
Balance 8000 investment at 7.00%