Question

you split 2000 between two accounts, account a pays 2% annual interest and account b pays 5% annual interest after one year you have earned a total of 77.50 in interest how much did you invest in each account.

i have been stuck on this for hours, can someone help me please?
will give medal and fan if i get help.

Answer 1

@blondie$$$

Answer 2

r u just trying to figure out how much you'd have

Answer 3

im trying to find out how much money is in each account

Answer 4

oh ok..was there a formula to go with it?

Answer 5

if possible it would be awesome for me to see the work so that i know how to do it next time.

Answer 6

yeah kind of, x+y=2000 and the other one is 2/100+5/100=77.50

Answer 7

can u just fill in x+y with the ammount of money?? or divide

Answer 8

iv tried that, theres a way to do it, i had a problem like this before and my teacher walked me through it.

Answer 9

oh ok...@dan815

Answer 10

im trying to think about what i can do

Answer 11

got it, if you multiply the lowest % in this case its 2% you get 2X+2Y=4000, subtract that from 2X+5Y=7750 than you get 3Y=3750, devide that by 3 and you get Y=1250 so X must be 750. so the answer is Y=1250, X=750.

Answer 12

can someone check my work to make sure i didnt mess up any calculations?

Answer 13

yeah just a sec xD... @dan815

Answer 14

well the simple solution is

let x be the amount earning 2%

then the amount earning 5% is 2000 - x

remember the percentages need to be expressed as decimals and their totals is the interest

0.02x + 0.05(2000 - x) = 77.50

which means

0.02x + 100 - 0.05x = 77.50

or

100 - 0.03x = 77.50

now solve for x...

remember this is the amount at 2%

then subtract this amount from $2000 to find the investment at 5%

hope it makes sense