SOLUTION: A person plans to invest a total of $ 4500 in one bank account at 6.3 % annual interest and another bank account at 17 % annual interest. How much should he invest in each account

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Question 1159358: A person plans to invest a total of $ 4500 in one bank account at 6.3 % annual interest and another bank account at 17 % annual interest. How much should he invest in each account so that the total interest in one year will be $ 337​?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
x Amount @6.3% $ 0.06
y Amount @ 17 % $ 0.17


1.00 x + 1.00 y = 4500.00


0.06 x + 0.17 y = 337.00 .............2
Eliminate y
multiply (1)by -0.17
Multiply (2) by 1.00
-0.17 x -0.17 y = -765.00
0.06 x 0.17 y = 337.00
Add the two equations
-0.11 x = -428.00
/ -0.11
x = 4000.00
plug value of x in (1)
1.00 x + 1.00 y = 4500.00
4000.00 + 1.00 y = 4500.00
1.00 y = 500.00
y = 500.00
Ans x = 4000.00
y = 500.00
$4000.00 Amount @6.3%
$500.00 Amount @ 17 %