Question

A woman invested $9000 in two mutual funds. In one year part of her investment earned 5% simple interest and the other part earned 6% simple interest. At the end of that year, the woman had earned $471. How much did she invest at each rate?

Answer 1

pls?

Answer 2

Let x = the amount invested at 6%
Let y = the amount invested at 5%

The amount invested at 6% + the amount invested at 5% equals the total amount invested.

So the that equation is this: x + y = $9,000

The amount earned from interest at 6% + the amount earned at 5% equals the total amount of interest earned.

So that equation looks like this: . .06x + .05y = $471

You now have two equations with two unknowns.

x + y = $9,000
.06x + .05y = $471

See if you can find the value of x and y on your own. You can use substitution or elimination to solve.