A woman invests a total of $20,000 in two accounts, one paying 3% and the other

Algebra
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A woman invests a total of $20,000 in two accounts, one paying 3% and the other paying 5.5% simple interest per year. Her annual interest is$750. How much did she invest at each rate?

3%    
5.5%    

Apr 20th, 2015

let she invested $ x at 3% and $y at 5.5%

therefore , x+y = 20000  -----------(1)

0.03x+.055y = 750   ------(2)

multiplying 0.03 in eq 1 we get

0.03x +0.03y = 600   -----------A

Subtracting A from 2 we get

0.025y = 150

y = 6000

therefore x = 14000

ANswer : 3%      $6000

               5.5%    $14000



Apr 20th, 2015

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