Mary has a total of $5000 invested in two accounts. One account pays 5% and the other 8%. Her interest in the first year was $331. Write and solve a system of equations to find out how much she has invested in both accounts

Answer 1

x = 05
y= 0.08

x + y = 5000
0.05x + .08y = 331


x + y = 5000
5x + 8y = 33100

Substitution methods
5(5000-y) + 8y = 33100
25000 -5y + 8y =33100
3y = 8100
y = 2700
x = 2300