algebra

posted by .

A total of $15,000 is invested into two accounts. One of the accounts earns 12% per year and the other earns 10% per year. If the total interest earned in the first year is $1600, how much is invested in each account?

1.) Define the variable(s) and what they stand for.
2.) Set up an equation
3.) State the solutions

  • algebra -

    amount invested at 12% --- x
    amount invested at 10% --- 15000-x

    .12x + .10(15000-x = 1600
    12x + 10(15000-x) = 160000
    12x + 150000 - 10x = 160000
    2x = 10000
    x = 5000

    so $5000 invested at 12% and $10000 invested at 10%

    check:
    .12(5000) + .1(10000) = 1600
    YUP!

  • algebra -

    12

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Algebra 1

    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 …
  2. Last math problem help

    Mr. Jarvis invested a total of 10,437 in two savings accounts. One account earns 8% simple interest per year and the other earns 9% simple interest per year. Last year the two investments earned a total of $849.52 in interest. Write …
  3. Algebra

    Mary has a total of $5000 invested in two accounts. One account pays 5% and the other 8%. Her interest in the first year was $331. Write and solve a system of equations to find out how much she has invested in both accounts.
  4. algebra

    Mary has a total of $5000 invested in two accounts. One account pays 5% and the other 8%. Her interest in the first year was $331. Write and solve a system of equations to find out how much she has invested in both accounts
  5. Math

    Travis has a total of $6,000 invested in two accounts. The total amount of interest he earns from the accounts in the first year is $420. If one account pays 6% per year and the other pays 9% per year, how much did he invest in each …
  6. math

    Sue has a total of $4000 to invest in two accounts. one account earns 2% simple interest and the other earns 5% simple interest. How much should be invested in both accounts to earn exactly $155 at the end of the year?
  7. collage math

    A total of $13,000 is invested in two accounts. One of the two accounts pays 7% per year, and the other account pays 13% per year. If the total interest paid in the first year is $1,390, how much was invested in each account?
  8. Washington high

    Stacy has a total of $6000 in two accounts.the amount of interest she earns from both accounts in the first year is $500.if one of the accounts earns 8% interest per year and the other earns 9% interest per year, how much did she invest …
  9. Washington high

    A man invest $12000 in two accounts.If one account pays 10% per year and the other pays 7% per year, how much was invested in each account if the total interest earned in the first year was $960?
  10. Algebra

    Phyllis invested 67000 dollars, split between two different accounts. The money in the first account earns simple interest at the rate of 4 percent per year. The money in the second account earns simple interest at the rate of 6 percent …

More Similar Questions