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

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