Problema Solution
Stacy has a total of $6,000 in two accounts. The total amount of interest she earns from both accounts in the first year is $500. If one of the accounts earn 8% interest per year and the other earns 9% interest per year, how much did she invest in each account?
Answer provided by our tutors
let
x = the money in the account that earns 8% interest per year
y = the money in the account that earns 9% interest per year
Stacy has a total of $6,000 in two accounts
x + y = 6000
total amount of interest she earns from both accounts in the first year is $500
0.08x + 0.09y = 500
by solving the system of equations
x + y = 6000
0.08x + 0.09y = 500
we find
x = $4,000
y = $2,000
click here to see the step by step solution of the system of equations
Stacy invested $4,000 at the 8% interest account and $2,000 at the 9% interest account.