Question 522560: A state emplotees' pension fund invested a total of one million dollars in tow accounts that earned 3.5% and 4.5% annual interest. At the end of the year, the total interest earned form the two investments was $39,000. How much was invested at each rate?
( i cant figure out the 2 equations)
Answer by Earlsdon(6294)   (Show Source):
You can put this solution on YOUR website! Let x = the amount invested at 3.5% then the remainder (1,000,000-x) is invested at 4.5%.
The interest earned on these amounts can be expressed thus:
0.035x+0.045(1,000,000-x) = $39,000 Simplify and solve for x.
0.035x+45,000-0.045x = 39,000 Combine like-terms.
-0.01x+45,000 = 39,000 Subtract 45,000 from both sides.
-0.01x = -6,000 Divide both sides by -0.01
x = 600,000 and...
1,000,000-x = 400,000
$600,000 was invested at 3.5% and $400,000 was invested at 4.5%
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