SOLUTION: Andy deposited a total of $2100 in two accounts, a savings account and an investment account. The savings account yields interest at an annual rate of 5%, and the investment acco

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Question 295777: Andy deposited a total of $2100 in two accounts, a savings account and an investment
account. The savings account yields interest at an annual rate of 5%, and the investment
account yields interest at the annual rate of 6.5%. The total interest after one year
was $123. Determine how much Andy deposited in each account.
Answer by JBarnum(2146) About Me  (Show Source):
You can put this solution on YOUR website!
u need to find the 2 equations so u can solve
"Andy deposited a total of $2100 in two accounts, a savings account and an investment account." meaning S%2BI=2100 s=money in Savings account I=money in investment account
"The savings account yields interest at an annual rate of 5%, and the investment
account yields interest at the annual rate of 6.5%. The total interest after one year was $123." this says that .05S%2B.065I=123 this is because 5% of S is .05S and 6.5% of I is .065I and the combined total interest is 123.
so now that we have the 2 equations we can substitute and solve
S%2BI=2100or S=2100-I
.05S%2B.065I=123 substitute the S
.05%282100-I%29%2B.065I=123distribute
105-.05I%2B.065I=123add like terms
105%2B.015I=123subtract 105
.015I=18divide by .015
highlight%28I=1200%29
input I into first equation to solve for S
S=2100-I
S=2100-1200
highlight%28S=900%29
check answer with secound equation
.05%28900%29%2B.065%281200%29=123 imput values for S and I and solve
45%2B78=123
123=123
CORRECT