SOLUTION: I have $6000 to invest in stock funds. The first stock pays %5 annual interest and the second one pays %9. If after a year I've made $380 in interest, how much did I invest in each

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: I have $6000 to invest in stock funds. The first stock pays %5 annual interest and the second one pays %9. If after a year I've made $380 in interest, how much did I invest in each      Log On

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Question 723511: I have $6000 to invest in stock funds. The first stock pays %5 annual interest and the second one pays %9. If after a year I've made $380 in interest, how much did I invest in each account?
I only need the equations I don't need to solve it

Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
x+y = 6000 is your first equation since the sum of the two amounts invested must be $6,000

0.05x + 0.09y = 380 is your other equation since you earn 0.05x dollars in interest in the first account and 0.09y dollars in interest in the second, so they total to 0.05x + 0.09y, which is exactly $380 in interest