Last year, Lamar had
$30,000
to invest. He invested some of it in an account that paid
6%
simple interest per year, and he invested the rest in an account that paid
8%
simple interest per year. After one year, he received a total of
$2020
in interest. How much did he invest in each account?

Question

Last year, Lamar had 
$30,000
 to invest. He invested some of it in an account that paid 
6%
 simple interest per year, and he invested the rest in an account that paid 
8%
 simple interest per year. After one year, he received a total of 
$2020
 in interest. How much did he invest in each account?

amandahhhhhhh · Answer

please help me

3mar · Answer

Salam
First: the 30,000 is divided into two amounts; x and y.
so its equation will be : $$x+y=30,000$$

Second: the rate of 1st amount is 0.06x and the for the other amount is 0.08y, so the total amount of the invest is expressed in the form : $$0.06x + 0.08y = 2020$$ 

So you can easily solve these two equations together

$$x+y=30,000$$
$$0.06x + 0.08y = 2020$$ 

You will get that :

$$x=19,000$$
$$y=11,000$$

To be sure, add x to y, it will lead to 30,000

Done!