Question 406604: You invest $12,000 into two diffrent accounts. One account pays 4% annual and the other account pays 2% annual intrest. the intrest earned in one year is $400. how much is invested in each fund?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! You invest $12,000 into two diffrent accounts. One account pays 4% annual and the other account pays 2% annual intrest. the intrest earned in one year is $400. how much is invested in each fund?
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4.00% per annum ------------- x
2.00% per annum ------------ y
total investment 12000
Interest----- $400.00
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x+y=12000 ------------------------1
4.00%x+2.00%y=$400.00
Multiply by 100
4x+2y=$40,000.00 --------2
Multiply (1) by -4
we get
-4x-4y =-48000
Add this to (2)
-2y=-$8,000.00
divide by -2
y=$4,000.00 investment at 2.00%
Balance $8,000.00 investment at 4.00%
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