Last year Tammy had $4,500 to invest in two savings accounts. One account earns 7% simple annual interest, and the other account earns 6% simple annual interest. At the end of the year, Tammy 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 7%, and let y represent the amount invested at 6%.
Part B Solve the system of equations. How much did Tammy have invested at each rate?

Question

Last year Tammy had $4,500 to invest in two savings accounts. One account earns 7% simple annual interest, and the other account earns 6% simple annual interest. At the end of the year, Tammy 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 7%, and let y represent the amount invested at 6%.
Part B  Solve the system of equations. How much did Tammy have invested at each rate?

neer2890 · Answer

tammy had total 4500 to invest.
so if he invests $x for 7% interest and $y for 6%.
then x+y=4500................(i)
also,
0.7x+0.6y=290.................(ii)
solve the equations to get x and y.

anonymous · Answer

x=-24100 and y=28600

neer2890 · Answer

sorry. 2nd equation should be 
0.07x+0.06y=290

anonymous · Answer

oh so then it would be x=2000 and y=2500

neer2890 · Answer

yeah..! correct

anonymous · Answer

How would I write out part 2?

neer2890 · Answer

we have already solved part B
so you can write that tammy have invested $2000 at 7% interest per annum and $2500 at 6% interest per annum.

anonymous · Answer

ohhhh okay! Wow thank you! I learned a lot off of this (:

neer2890 · Answer

you're welcome....:)