Question 904176
We know the total amount of money invested. $38500
x+y=38500,
We know that the total interest for the year for the two accounts is $2805
0.03*x+0.09*y=2805
x=38500-y
We substitute for x
0.03*(38500-y)+0.09*y=2805
We multiply out
1155-0.03y+0.09*y=2805
We combine like terms.
0.06*y=1650
Isolate y
y=27500 at 9%
x=38500-y
Calculate x
x=11000 at 3%
We check
0.03*11000+0.09*27500=2805
330+2475=2805
2805=2805
Since this statement is TRUE and neither amount is negative then it is ok