Question

Hattie had $6800 to invest and wants to earn 3.5% interest per year. She will put some of the money into an account that earns 3.3% per year and the rest into an account that earns 5% per year. How much money should she put into each account?

Answer 1

To determine how much money Hattie should put into each account, we can set up a system of equations. Let's say she puts x dollars into the 3.3% account and (6800 - x) dollars into the 5% account. The interest earned from the 3.3% account would be 0.033x, and the interest earned from the 5% account would be 0.05(6800 - x). We can then set up the equation:

0.033x + 0.05(6800 - x) = 0.035(6800)

Simplifying and solving this equation will give us the amount of money Hattie should put into each account.