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Question 1125298: Mrs.Jones invested 10,000 dollars, divided between two separate accounts. one pays 5%interest and the other 6%. Her combined annual interest income is 575 dollars. How much does she have invested in each account
Answer by ikleyn(52814)   (Show Source):
You can put this solution on YOUR website! .
Let x = the amount invested at 6%.
Then the amount invested at 5% is the rest (10000-x) dollars.
Your equation is
interest + interest = total interest, or
0.06*x + 0.05*(10000-x) = 575 dollars.
Simplify and solve for x. Then evaluate (10000-x).
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It is a standard and typical problem on investments. // We solve tons (tens) such problems every day at this forum . . .
If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson
- Using systems of equations to solve problems on investment
in this site.
You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).
Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.
The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".
Save the link to this online textbook together with its description
Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson
to your archive and use it when it is needed.
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