Question 713389: Hello! My teacher gave us a worksheet involving systems of equations, it'd be really wonderful if you could help me. Thank you! :)
Ms. Jewell invests $5,000 at 5% interest and the rest at 3.9% interest. If she earned $233.50 in interest the first year, how much did she invest at each rate?
Answer by jim_thompson5910(35256)   (Show Source):
You can put this solution on YOUR website! Ms. Jewell invests $5,000, so x+y = 5000. Solve for y to get y = 5000 - x
where x = amount invested at 5%, y = amount invested at 3.9%
She earned $233.50 in interest, so
0.05x + 0.039y = 233.50
100*(0.05x + 0.039y) = 100*233.50
5x + 39y = 23350
5x + 39(5000 - x) = 23350
I'll let you finish. Solve this for x. Then use the solution for x to find y.
|
|
|
