Question

Nicole invests a total of $5000 into two different investments. One investment is a GIC that earns 5% interest. The other investment is a savings plan that earns 3% interest. At the end of the year, Nicole earned $220 in interest. Determine how much money Nicole put in each investment.

Answer 1

you need to solve this sistem for x and y

x +y = 5000
0,05x +0,03y = 220

@Vocaloid is this true ? pls.

Answer 2

ty

Answer 3

I don't quite understand? can you explain how to get the x and y?

Answer 4

you can use substitution or elimination method to solve this sistem

@Laylalyssa

Answer 5

but what exactly am i substituting?

Answer 6

yes.
both would get the same answer

Answer 7

\(\color{#0cbb34}{\text{Originally Posted by}}\) @lazytaz
but what exactly am i substituting?
\(\color{#0cbb34}{\text{End of Quote}}\)
the variable I believe

Answer 8

\(\color{#0cbb34}{\text{Originally Posted by}}\) @Laylalyssa
\(\color{#0cbb34}{\text{Originally Posted by}}\) @lazytaz
but what exactly am i substituting?
\(\color{#0cbb34}{\text{End of Quote}}\)
the variable I believe
\(\color{#0cbb34}{\text{End of Quote}}\)
which one is the variable $5000, 5%, 3%, or $220?

Answer 9

@jhonyy9

Answer 10

no

x +y = 5000 => x = 5000 -y and this value of x substitute in place of x inside second equation and calcule the y value
0,05x +0,03y = 220