SOLUTION: you investes $6,000 in two accounts paying 4% and 5% annual intrest, respectilvly, if the total interest owed earned for the year was $260 how much was invested in each account
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Question 685534: you investes $6,000 in two accounts paying 4% and 5% annual intrest, respectilvly, if the total interest owed earned for the year was $260 how much was invested in each account
You can put this solution on YOUR website! Part I 4.00% per annum ------------- Amount invested =x
Part II 5.00% per annum ------------ Amount invested = y
6000
Interest----- 260
Part I 4.00% per annum ---x
Part II 5.00% per annum ---y
Total investment
x + 1 y= 6000 -------------1
Interest on both investments
4.00% x + 5.00% y= 260
Multiply by 100
4 x + 5 y= 26000.00 --------2
Multiply (1) by -4
we get
-4 x -4 y= -24000.00
Add this to (2)
0 x 1 y= 2000
divide by 1
y = 2000
Part I 4.00% $ 4000
Part II 5.00% $ 2000
