SOLUTION: $5,000 is invested in two different accounts yielding 3% and 3.5% interest. The amount invested in the account that yields 3% interest is $550 more than the other account. Establis

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: $5,000 is invested in two different accounts yielding 3% and 3.5% interest. The amount invested in the account that yields 3% interest is $550 more than the other account. Establis      Log On


   

Question 860212: $5,000 is invested in two different accounts yielding 3% and 3.5% interest. The amount invested in the account that yields 3% interest is $550 more than the other account. Establish the equations necessary to find the amount of money invested in each of the accounts. Let x and y represent the two amounts invested.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

Let x and y represent the amount at  3.5% and 3%  respectively

 x + y = 5000

  y = x + 550