Question

A total of 8000 dollars is invested in two funds paying 4 percent and 5 percent annual interest,. The combined interest for the year is 350 dollars. How much of the 8000 dollars is invested in each fund? Put the amount of money that should be invested in the 4 percent account in part I and the amount in 5 percent in part II.

What amount should be invested in the 4 percent account?

What amount should be invested in the 5 percent account?

Answer 1

You have two equations in two unknowns to solve.
x + y = 8000
.04x + .05y = 350
solve for x and y then continue : )

Answer 2

$Po invested at 4%.
$(8000-Po) invested at 5%

Po*0.04*1 + (8000-Po)*0.05*1 = 350.
0.04Po + 400 - 0.05Po = 350,
Po = $5000.
8000-Po = 8000-5000 = $3000.