Question

Set up and solve a system of equations to solve the problem. Helene invested a total of $1,500 in two simple-interest bank accounts. One account paid 4% annual interest; the other paid 5% annual interest. The total amount of interest she earned after 1 year was $69. Find the amount invested in each account. Helene invested $ in the 4% interest account and $ in the 5% account.

Answer 1

Explanation:

x + y = 1,500

y = 1,500 - x

0.04x + 0.05y = 69

0.04x + 0.05(1,500 - x) = 69

0.04x + 75 - 0.05x = 69

-0.01x = -6

x = 600

y = 1,500 - 600 = 900