SOLUTION: Mrs. brandy invests a total of $8715 in two savings accounts. one account yields 8.5% simple intrest and the other 9.5% simple interest. She would like to find the amount placed in

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Mrs. brandy invests a total of $8715 in two savings accounts. one account yields 8.5% simple intrest and the other 9.5% simple interest. She would like to find the amount placed in      Log On


   

Question 181776: Mrs. brandy invests a total of $8715 in two savings accounts. one account yields 8.5% simple intrest and the other 9.5% simple interest. She would like to find the amount placed in each account if a total of $754.88 in interest is received after one year
Answer by Mathtut(3670) About Me  (Show Source):
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Mrs. brandy invests a total of $8715 in two savings accounts. one account yields 8.5% simple intrest and the other 9.5% simple interest. She would like to find the amount placed in each account if a total of $754.88 in interest is received after one year
:
let the amount invested at 8.5% and 9.5% be x and y respectively
:
x+y=8715.............eq 1
.085x+.095y=754.88...eq 2
:
rewrite eq 1 to x=8715-y and plug it into eq 2
:
.085(8715-y)+.095y=754.88
:
740.78-.085y+.095y=754.88
:
.01y=14.1
:
highlight%28y=1410%29dollars invested at 9.5%
:
highlight%28x%29=red%288715-1410%29=highlight%287305%29dollars invested at 8.5%