Question

Travis has a savings account that his parents opened for him. It pays 6% annual interest. His uncle also opened and account for him, but it pays 8% annual interest. If there is $800 more in the account that pays 6%, and the total annual interest from both accounts is $104, how much money is in each of the accounts? Show your work

Answer 1

x - the first account,
y - the second account ( that uncle opened for him )
x = y + 800
0.06 x + 0.08 y = 104 / * 100
----------------------------------------
x - y = 800 / * 8
6 x + 8 y = 10,400
------------------------
8 x - 8 y = 6,400
+
6 x + 8 y = 10,400
-------------------------
14 x = 16,800
x = 16,800 : 14
x = $1,200
y = 1,200 - 800 = $400