Question 471409: Cameron has saved $18,000 and plans to invest it in two accounts: a savings account that pays 5.2% annual interest and a stock that promises a 9% annual return. If Cameron earns $1,430 in interest after one ear, how much did she invest in each account?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! Investment I 5.20% per annum
Investment II 9.00% per annum
x + y 18000 ------------------------1
5.20% x + 9.00% y = $1,430.00
Multiply by 100
5.2 x + 9 y = $143,000.00 --------2
Multiply (1) by -5.2
we get
-5.2 x -5.2 y = -93600.00
Add this to (2)
0 x 3.8 y = $49,400.00
divide by 3.8
y = $13,000.00 investment at 9.00%
Balance $5,000.00 investment at 5.20%
CHECK
$5,000.00-------$260.00
$13,000.00------$1,170.00
Total--------- $1,430.00
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