Wednesday

September 17, 2014

September 17, 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.

**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, Susan had 30,000 to invest. She invested some of it in an ...

Math - Paula invested into two accounts; one pays 5% simple interest and the ...

Last math problem help - Mr. Jarvis invested a total of 10,437 in two savings ...

Math - Kent invested $5,000 in a retirement plan.He allocated X dollars of the ...

math - Money is invested in a savings account at 3.4% simple interest. After 1 ...

Math - Nico was stunned when he opened the mail. Here was a check for $322.50! ...

Business Algebra - You invest $20,000 in two accounts. Account A earned 4.5% ...

math - A woman has a total of $9,000 to invest. She invests part of the money in...

math - ...A woman has a total of $9,000 to invest. She invests part of the ...