Bill invested a total $1500 in two accounts one account paid 2% annual interest and the other account paid 4%. After on year she earned a total of $44 interest. How much did she invest in each account

Question

Mathematics

Shaun Church

13 July, 05:09

Bill invested a total $1500 in two accounts one account paid 2% annual interest and the other account paid 4%. After on year she earned a total of $44 interest. How much did she invest in each account

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Answers (1)

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Maya Shaw · Answer 1

Answer: 1st 700 and 2nd investment is 800

Step-by-step explanation:

x+y=1500 This is because the total is 1500 dollars into 2 different accounts, x and y.

0.02x+0.04y=44 This is because it says 2 percent interest in one account and 4 percent in the other, and the totals add up to 44 dollars.

Now use elimination method.

x+y=1500 (-0.02) = -0.02x+-0.02y=-30

0.02x+0.04y=44

Now you end up with 0.02y=14, solve for y and you get 700. That's the value of y which now you can then subtract from 1500 and get 800 which is the value of x.