Problema Solution
Last year, Martina had
$10,000
to invest. She invested some of it in an account that paid
9%
simple interest per year, and she invested the rest in an account that paid
10%
simple interest per year. After one year, she received a total of
$980
in interest. How much did she invest in each account?
Answer provided by our tutors
let
x = the money invested in an account that paid 9% simple interest per year
y = the money invested in an account that paid 10% simple interest per year
Last year, Martina had $10,000 to invest:
x + y = 10,000
After one year, she received a total of $980 in interest:
0.09x + 0.10y = 980
by solving the system of equations:
x + y = 10000
0.09x + 0.10y = 980
we find:
x = $2,000
y = $8,000
click here to see the step by step solution of the system of equations:
Martina invested $2,000 in an account that pays 9% simple interest per year and $8,000 in an account that pays 10% simple interest per year.