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Algebra 1

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Ms. Buxx invested a total of $2000 in two saving accounts. The first account pays 3% intrest per year. The second accout pays 5% intrest per year. If the intrest form both accounts totals $84 dollars per year how much is invested in each account?

  • Algebra 1 -

    Solve these two equations in two unknowns. Let X be the amount invested at 3% and Y be the amount invested at 5%.

    X + Y = 2000
    0.03 X + 0.05 Y = 84

    I recommend substituting 2000-X for Y in the second equaion, and than solving for X

    The first step will give you
    0.03 X + 0.05(2000-X) = 0
    0.03 X + 100 - 0.05X = 0

    Take it from there. Solve for X and then use Y = 2000 - X

  • Algebra 1 -

    But then you get x=5000. Which is much more than the investment.

  • Algebra 1 -

    My mistake, sorry.
    0.03 X + 100 -0.05X = 84
    16 = 0.02 X
    X = 800
    Y = 1200

  • Algebra 1 -

    really and truly it would be simpler if you multiply everything in the second equation by 100 then solve with whole numbers

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