SOLUTION: Mary has a total of $5000 invested in two accounts. One account pays 5% and the other 8%. Her interest in the first year was $331. Write and solve a system of equations to find out
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Question 856077: Mary has a total of $5000 invested in two accounts. One account pays 5% and the other 8%. Her interest in the first year was $331. Write and solve a system of equations to find out how much she has invested in both accounts. 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 8.00% per annum ------------ Amount invested = y
5000
Interest----- 331.00
Part I 5.00% per annum ---x
Part II 8.00% per annum ---y
Total investment
x + 1 y= 5000 -------------1
Interest on both investments
5.00% x + 8.00% y= 331
Multiply by 100
5 x + 8 y= 33100.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -25000.00
Add this to (2)
0 x 3 y= 8100
divide by 3
y = 2700
Part I 5.00% $ 2300
Part II 8.00% $ 2700
