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Algebra 1

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You have $6000 to invest in two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interest, how much money did you invest in each account?

  • Algebra 1 -

    I = P*r1*t+P*r2*t = $380.
    I = P1*.05*1+P2*.09*1 = 380
    0.05P1 + 0.09P2 = 380.

    Multiply both sides by 100:
    Eq1: 5P1 + 9P2 = 38000.
    Eq2: P1 + P2 = 6000.
    Multiply Eq2 by -5:
    5P1 + 9P2 = 38000
    -5P1 + -5P2 = -30000
    Add the 2 Eqs and

  • Algebra 1 -

    I = P*r1*t+P*r2*t = $380.
    I = P1*.05*1+P2*.09*1 = 380
    0.05P1 + 0.09P2 = 380.

    Multiply both sides by 100:
    Eq1: 5P1 + 9P2 = 38000.
    Eq2: P1 + P2 = 6000.
    Multiply Eq2 by -5:
    5P1 + 9P2 = 38000
    -5P1 + -5P2 = -30000
    Add the 2 Eqs:
    4P2 = 8000
    P2 = $2000 = Investment @ 9%.

    In Eq2, substitute 2000 for P2:
    P1 + 2000 = 6000
    P1 = $4000 = Investment @ 5%.

  • Algebra 1 -

    thank you so much

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