# Math 0098

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?

1. Do you have numbers for this problem?

posted by JJ

2. 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).

posted by Jazz
3. 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.

posted by JJ
4. where did you get .08 from?

posted by Jazz
5. Sorry.. the .08 is a typo. It should be .09

Which makes the equation 7x + 9y = 86000

posted by JJ
6. it would be 7x+7y=70000? I don't know how to solve the two equations

posted by Jazz
7. I don't think I'm doing this right because i am getting HUGE numbers like 156,000

posted by Jazz
8. -7x -7y =70000
7x + 9y =86000

2y = 156000

divide by 2 and you get 7800 for y
so the other amount must be 2200.

posted by JJ

## Similar Questions

1. ### Math 0098

Last year, Deon had \$20,000 to invest. He invested some of it in an account that paid 6% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total
2. ### Algebra

Last year, Deon had \$10,000 to invest. He invested some of it in an account that paid 6%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
3. ### math

Last year, Carmen had \$20,000 to invest. She invested some of it in an account that paid 9% simple interest per year, and she invested the rest in an account that paid 5% simple interest per year. After one year, she received a
4. ### Simple Interest

Last year, Ivan had \$20,000 to invest. He invested some of it in an acount that paid 9% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After one year, he received a total of
5. ### Algebra

last year, justin had 30,000 to invest. he invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he recieved a total
6. ### algebra

Last year, Susan had 30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 7% simple interest per year. After one year, she received a
7. ### Math(simple interest)

Mr.X invested a total of Rs.10,000 in three different accounts, the Accounts paid simple interest at an annual rate of 8%,9% and 7.5% respectively. Total interest earned for the year was Rs.845. The amount in the 9% account was
8. ### 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.
9. ### Math

Paula invested into two accounts; one pays 5% simple interest and the other 6% simple interest. She invested \$3000 more in the account paying 6% than in the other account 5%. At the the end of the first year, Paula total return
10. ### Calculus

Linda has \$9000 to invest. She invested x dollars in an account that earned 3% simple interest and the remainder of the money in an account that earned 2.6% simple interest. In one year, both accounts together earned \$250

More Similar Questions