SOLUTION: You wish to invest $800 over one year in two accounts paying 5% and 6% annually. How much should you invest in each to earn $43?

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Question 906720: You wish to invest $800 over one year in two accounts paying 5% and 6% annually. How much should you invest in each to earn $43?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
Total amount of money invested: $800
x+y=800,
Total yearly interest for the two accounts is: $43
0.05*x+0.06*y=43
x=800-y
Substitute for x
0.05*(800-y)+0.06*y=43
Multiply out
40-0.05y+0.06*y=43
Combine like terms.
0.01*y=3
Isolate y
y=$ 300.00 at 6%
x=800-y
Calculate x
x=$ 500.00 at 5%
Check
0.05*500+0.06*300=43
25+18=43
43=43
If this statement is TRUE and neither x nor y is negative then all is well