Question

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

Answer 1

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.