Question

$17,889 is invested , part at 8% and the rest at 5% if the interest earned from the amount invested at 8% exceeds the interest earned from the amount invested at 5% by $412.44, how much is invested at each rate? (round to two decimals place if necessary) ....use x and y to set up a system of equation to solve for the given problem

Answer 1

0.08x-0.05y=41244
x+y=17889 so x= 17880-y
so now it is simultaneous you can substitute x from second equation into first and find y then substitute in second equation to find x
0.08(17880-y) -0.05y = 41244
when you found y substitute to find x

Answer 2

thank you! I got x = 17888 and y =20372 @anette

Answer 3

great