Last year Kyung had $6,000 to invest in two savings accounts. One account earns 6% simple annual interest, and the other account earns 4% simple annual interest. At the end of the year, Kyung had earned a total of $290 in interest from the two savings accounts.
Part A Write a system of two equations that could be used to find the amount of money invested in each account. Let x represent the amount invested at 6%, and let y represent the amount invested at 4%.
Part B Solve the system of equations. How much did Kyung have invested at each rate?

Question

Last year Kyung had $6,000 to invest in two savings accounts. One account earns 6% simple annual interest, and the other account earns 4% simple annual interest. At the end of the year, Kyung had earned a total of $290 in interest from the two savings accounts.
Part A  Write a system of two equations that could be used to find the amount of money invested in each account. Let x represent the amount invested at 6%, and let y represent the amount invested at 4%.
Part B  Solve the system of equations. How much did Kyung have invested at each rate?

anonymous · Answer

medal reward?

anonymous · Answer

This would be:
x+y=6000
0.06x+0.04y=290
x = the amount they invested into the 6% savings account
y  = the amount they invested into the 4% savings account
The first equation saying that the amount invested in account x + the amount invested in account y = 6000, and this is true because this is what they invested initially.
The second equation is saying that the amount earned between the two accounts is 290 and that the rates are .06(6%) and.04(4%).

Does this make sense?
If it does, see if you can solve the system two equations for x and y now.

anonymous · Answer

ok thank you

anonymous · Answer

No problem, glad it helped.
I was actually stumped on this one for a little bit myself. :)