SOLUTION: A total of $12000 is invested in two accounts. One of the accounts earns 15% per year and the rest in an account that pays 13% per year. If the total interest earned in the first y
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Question 793122: A total of $12000 is invested in two accounts. One of the accounts earns 15% per year and the rest in an account that pays 13% per year. If the total interest earned in the first year is $1634, how much was invested in each account? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 15.00% per annum ------------- Amount invested =x
Part II 13.00% per annum ------------ Amount invested = y
12000
Interest----- 1634.00
Part I 15.00% per annum ---x
Part II 13.00% per annum ---y
Total investment
x + 1 y= 12000 -------------1
Interest on both investments
15.00% x + 13.00% y= 1634
Multiply by 100
15 x + 13 y= 163400.00 --------2
Multiply (1) by -15
we get
-15 x -15 y= -180000.00
Add this to (2)
0 x -2 y= -16600
divide by -2
y = 8300 - x)
Part I 15.00% $ 3700
Part II 13.00% $ 8300
