SOLUTION: Stephanie invested a total of $11,000 in two accounts. After a year, one account lost 8.6% , while the other account gained 2.6% . In total, Stephanie lost $722 . How much money d

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Stephanie invested a total of $11,000 in two accounts. After a year, one account lost 8.6% , while the other account gained 2.6% . In total, Stephanie lost $722 . How much money d      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 977488: Stephanie invested a total of $11,000 in two accounts. After a year, one account lost 8.6% , while the other account gained 2.6% . In total, Stephanie lost $722 . How much money did Stephanie invest in each account?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
Total amount of money invested: $11000
x+y=11000,
Total yearly interest for the two accounts is: $-722
0.026*x-0.086*y=-722
x=11000-y
Substitute for x
0.026*(11000-y)-0.086*y=-722
Multiply out
286.0-0.026*y-0.086*y=-722
Combine like terms.
-0.112*y=-1008.0
Isolate y
y=9000.0
y=$ 9000.00 loses $774.0 interest at 8.6%
x=11000-y
Calculate x
x=$ 2000.00 at 2.6% earns $52.0 interest
Check
0.026*2000.0-0.086*9000.0=-722
52.0-774.0=-722
-722.0=-722
If -722.0=-722 is TRUE then all is well
codeintposneg