SOLUTION: A woman has a total of $8,000 to invest. She invests part of the money in an account that pays 5% per year and the rest in an account that pays 9% per year. If the interest earned
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Question 853231: A woman has a total of $8,000 to invest. She invests part of the money in an account that pays 5% per year and the rest in an account that pays 9% per year. If the interest earned in the first year is $520, how much did she invest in each account? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 5.00% per annum ------------- Amount invested =x
Part II 9.00% per annum ------------ Amount invested = y
8000
Interest----- 520.00
Part I 5.00% per annum ---x
Part II 9.00% per annum ---y
Total investment
x + 1 y= 8000 -------------1
Interest on both investments
5.00% x + 9.00% y= 520
Multiply by 100
5 x + 9 y= 52000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -40000.00
Add this to (2)
0 x 4 y= 12000
divide by 4
y = 3000
Part I 5.00% $ 5000
Part II 9.00% $ 3000
