Question 1079941
you need to solve 2 equations simultaneously.


s + m = 10,000
.0264s + .089m = 750


decimal equivalent = percent / 100.
2.64% = .0264
8.9% = .089


we'll solve by elimination.
you could also solve by substitution or by graphing.


i'll do elimination and then show you the graphical solution.


your 2 equations are:



s + m = 10,000
.0264s + .089m = 750


multiply both sides of the first equation by .0264 to get:


.0264s + .0264m = 264
.0264s + .089m = 750


subtract the first equation from the second to get:


.0626m = 486


solve form to get m = 486 / .0626 = 7763.578275


s is equal to 10,000 - 7763.578275 = 2236.421725


s + m = 10,000
.0264s + .089m = 750


solution looks good.


the graphical solution is shown below:


<img src = "http://theo.x10hosting.com/2017/050602.jpg" alt="$$$" </>


you let x = amount invested in savings and y = amount invested in mutual funds.


your equations to graph are:


.0264 * x + .089y = 750
x + y = 10,000


solve for y in both equations to get:


y = (750 - .0264x) / .089
y = 10000 - x


the intersection of the lines of these 2 equations should be your solution.


the solution is shown in (x,y) format where x represents the investment in the savings account and y represents the investment in the mutual fund account.


it does not appear that she can earn 1000 interest in one year with .0264 interest on the savings and .089 interest on the mutual fund.


the problem is that, even if she invested all the money in the mutual fund account, the best she could get was 890 in interest.