Question 1182196
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Estefania invests a total of P24,000 in two accounts paying 7% and 6% annual interest, respectively. 
How much was invested in each account if, after one year, the total interest was P1,630.00.
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<pre>
Let x be the amount invested at 7%.

Then the amount invested at 6% is the rest  (24000-x) monetary units.


Next, you write the total interest equation


    0.07x + 0.06*(24000-x) = 1630.


From the equation


    x = {{{(1630-0.06*24000)/(0.07-0.06)}}} = 19000.


<U>ANSWER</U>.  19000 was invested at 7% and the rest, (24000-19000) = 5000  was invested at 6%.


<U>CHECK</U>.   19000*0.07 + 5000*0.06 = 1630,  total interest.    ! Correct !
</pre>

Solved.


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It is a standard and typical problem on investments.


If you need more details,  &nbsp;or if you want to see other similar problems solved by different methods, &nbsp;look into the lesson 

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/coordinate/lessons/Using-systems-of-equations-to-solve-problems-on-investment.lesson>Using systems of equations to solve problems on investment</A>

in this site.


You will find there different approaches &nbsp;(using one equation or a system of two equations in two unknowns), &nbsp;as well as 
different methods of solution to the equations &nbsp;(Substitution, &nbsp;Elimination).


Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lesson is the part of this online textbook under the topic &nbsp;"<U>Systems of two linear equations in two unknowns</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.