Problema Solution
A man invests a total of $9,493in two savings accounts. One account yields 9% simple interest and the other 10% simple interest. He earned a total of $930.80interest for the year. How much was invested in the 9% account?
Answer provided by our tutors
let
x = the money invested at the account that yields 9% simple interest
y = the money invested at the account that yields 10% simple interest
a man invests a total of $9,493 in two savings accounts
x + y = 9493
he earned a total of $930.80 interest for the year
0.09x + 0.10y = 930.80
by solving the system of equations
x + y = 9493
0.09x + 0.10y = 930.80
we find
x = $1,850
y= $7,643
click here to see the step by step solution of the system of equations
he invested $1,850 in the 9% account.