Respuesta :
Answer:
You invested $22,000 in two accounts paying 3% and 5% annual interest, respectively. If the total interest earned for the year was $980, how much was invested at each rate?
Step-by-step explanation:
let x=amt invested at 3% rate of interest.
22000-x=amt invested at 5% rate of interest.
.03x+.05(22000-x)=980
.03x+1100-.05x=980
.02x=120
x=6000
22000-x=16000
amt invested at 3% rate of interest=$6,000
amt invested at 5% rate of interest=$16,000
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The amount invested in the account that yields 3% interest is $21,000 and the amount invested in the account that yields 2% interest is $5000
This can be solved using simultaneous equations. Two equations can be derived from the question :
a + b = 26,000 equation 1
0.02a + 0.03b = 730 equation 2
Where
a = amount invested in the account that yields a 2% interest
b = amount invested in the account that yields a 3% interest
Multiply equation 1 by 0.02
0.02a + 0.02b = 520 equation 3
Subtract equation 3 from equation 2
0.01b = 210
Divide both sides of the equation by 0.01
b = 210 / 0.01 = 21,000
Substitute for b in equation 1
a + 21,000 = 26,000
a = 26,000 - 21,000
a = 5000
To learn more about simultaneous equations, please check : https://brainly.com/question/15165519?referrer=searchResults
