SOLUTION: Ralph invests $15,600 into two accounts;a saving account and checking account.The savungs account earns 8% back intrest and the chevking earns 9%.After 1 year he has earned $1334.2
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Question 934262: Ralph invests $15,600 into two accounts;a saving account and checking account.The savungs account earns 8% back intrest and the chevking earns 9%.After 1 year he has earned $1334.28 intrest.How much did Ralph invest into each account Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 8.00% per annum ------------- Amount invested =x
Part II 9.00% per annum ------------ Amount invested = y
15600
Interest----- 1334.28
Part I 8.00% per annum ---x
Part II 9.00% per annum ---y
Total investment
x + 1 y= 15600 -------------1
Interest on both investments
8.00% x + 9.00% y= 1334.28
Multiply by 100
8 x + 9 y= 133428.00 --------2
Multiply (1) by -8
we get
-8 x -8 y= -124800.00
Add this to (2)
0 x 1 y= 8628
divide by 1
y = 8628
Part I 8.00% $ 6972
Part II 9.00% $ 8628
