Question 911006
We don't know the total invested.
We know the difference in the two accounts.
We know that the interest for the two accounts is $510
0.08*x+0.05*y=510
We know that the account at 8% has $1500 more.
x=1500+y
We substitute for x
0.08*(1500+y)+0.05*y=510
We multiply out
120+0.08y+0.05*y=510
We combine like terms.
0.13*y=390
Isolate y
y=$3000 at 5%
x=1500+y
Calculate x
x=$4500 at 8%
Now,we know the total invested is: 7500
Total invested $4500+$3000=$7500
We check
0.08*4500+0.05*3000=510
360+150=510
510=510
Since this statement is TRUE and neither x nor y is negative all is well.
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