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August 29, 2014

August 29, 2014

Posted by **Jazz** on Friday, February 22, 2013 at 10:53am.

- Math 0098 -
**JJ**, Friday, February 22, 2013 at 11:21amDo you have numbers for this problem?

- Math 0098 -
**Jazz**, Friday, February 22, 2013 at 11:24amLast year, Joe had 10,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 9% simple interest per year. After one year, he received a total of $860 in interest. How much did he invest in each account?

(sorry bout that).

- Math 0098 -
**JJ**, Friday, February 22, 2013 at 11:31amx = amount in the first account

y = amount in the second account.

total invested:

x + y = 10,000

since Interest = Principles times rate times time.

.07x + .08y = 860

Now, you work with those two equations.

I would multiply the bottom equation by 100 to get rid of the decimals.

x + y = 10000

7x + 8y = 86000

Now, you can solve this by using the substitution method or the addition method.

I probably would use the addition(also known as the elimination method.)

Multiply the top equation by -7 and solve for y. Once you have y, you can find x. Then be sure to check x and y in both equations.

- Math 0098 -
**Jazz**, Friday, February 22, 2013 at 11:33amwhere did you get .08 from?

- Math 0098 -
**JJ**, Friday, February 22, 2013 at 11:37amSorry.. the .08 is a typo. It should be .09

Which makes the equation 7x + 9y = 86000

- Math 0098 -
**Jazz**, Friday, February 22, 2013 at 11:55amit would be 7x+7y=70000? I dont know how to solve the two equations

- Math 0098 -
**Jazz**, Friday, February 22, 2013 at 12:03pmI dont think I'm doing this right because i am getting HUGE numbers like 156,000

- Math 0098 -
**JJ**, Friday, February 22, 2013 at 1:47pm-7x -7y =70000

7x + 9y =86000

2y = 156000

divide by 2 and you get 7800 for y

so the other amount must be 2200.

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