Question

Ms. Smith invested $13,000 in two accounts, one yielding 4% interest and the other yielding 9%. If she received a total of $770 in interest at the end of the year, how much did she invest in each account?

Answer 1

Hint: Solve the system


x+y = 13000
0.04x + 0.09y = 770

Answer 2

What amount was invested a t 4%?

Answer 3

to find this answer, solve for x

Answer 4

x+y = 13000

y = 13000 - x

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0.04x + 0.09y = 770

0.04x + 0.09(13000 - x) = 770

keep going to solve for x

Answer 5

@chicashley : Ms. Smith invested a total of 13000 dollars in two accounts. This means that she invested a certain portion of 13000 in the first account(call it account in Bank A) and the remaining in the second account.(account in Bank B).
This means that Amount in Bank A plus Amount in Bank B equals 13000.
This is what @jim_thompson5910 meant by x+y = 13000
Next, Bank A gives an interest of 4% and Bank B gives an interest of 7%. The total amount of money Ms Smith received in interest was 770 dollars.
This means that 4 percent of the amount in Bank A plus 7 percent of the amount in Bank B is equal to 770 dollars,
or, 4%*Amount in Bank A + 7%*amount in Bank B = 770
This is what @jim_thompson5910 meant by 0.04x + 0.07y = 770.

Now, you have two equations:
x+y = 13000 and
0.04x+0.07y=770.

solve these two equations to get x and y.
And keep in mind what x and y represent.
x represents the amount of money in Bank A
y represents the amount of money in Bank B

Answer 6

$4480. @ 4%
8520. @ 9%