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

Last year, Joe had to invest. He invested some of it in an account that paid simple interest per year, and he invested the rest in an account that paid simple interest per year. After one year, he received a total of in interest. How much did he invest in each account?

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

- Math 0098 -
**Jazz**, Friday, February 22, 2013 at 11:24am
Last 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 11:31am
x = 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 11:33am
where did you get .08 from?

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

Which makes the equation 7x + 9y = 86000

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

- Math 0098 -
**Jazz**, Friday, February 22, 2013 at 12:03pm
I 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.

## Answer This Question

## Related Questions

- Math 0098 - Last year, Deon had $20,000 to invest. He invested some of it in an...
- Algebra - Last year, Deon had $10,000 to invest. He invested some of it in an ...
- Simple Interest - Last year, Ivan had $20,000 to invest. He invested some of it ...
- algebra - Last year, Susan had 30,000 to invest. She invested some of it in an ...
- Last math problem help - Mr. Jarvis invested a total of 10,437 in two savings ...
- Calculus - Linda has $9000 to invest. She invested x dollars in an account that ...
- Math - Paula invested into two accounts; one pays 5% simple interest and the ...
- math - 8.Mary invested RM3000 in two accounts, some at 12% per annum and the ...
- collage math - A total of $13,000 is invested in two accounts. One of the two ...
- Business Algebra - You invest $20,000 in two accounts. Account A earned 4.5% ...

More Related Questions