Asked by Taylor
Mr. Jarvis invested a total of 10,437 in two savings accounts. One account earns 8% simple interest per year and the other earns 9% simple interest per year. Last year the two investments earned a total of $849.52 in interest. Write a syste of equations to use to determine the amount mr Jarvis initially invested in each account
Answers
Answered by
Steve
this is just the same as several others. Only the numbers are different.
If he has two accounts, with $x at 8% and $y at 9%, then the amounts in the accounts must add up to the total invested:
x+y = 10437
Now, add up the interest earned. The amounts must equal the total interest:
.08x + .09y = 849.52
Since you know that y = 10437-x, just plug it in:
.08x + .09(10437-x) = 849.52
Now just solve for x and use that to get y.
A calculator might come in handy here, because of the odd amounts involved.
If he has two accounts, with $x at 8% and $y at 9%, then the amounts in the accounts must add up to the total invested:
x+y = 10437
Now, add up the interest earned. The amounts must equal the total interest:
.08x + .09y = 849.52
Since you know that y = 10437-x, just plug it in:
.08x + .09(10437-x) = 849.52
Now just solve for x and use that to get y.
A calculator might come in handy here, because of the odd amounts involved.
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