Question

last year Isabel had $30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 9% simple interest per year. After one year she received a total of $2450 in interest. How much did she invest in each account?

Answer 1

Explanation:

x= amount invested at 8%

y= amount invested at 9%

x+y=30000

.08x+.09y=2450

y=30000-x

.08x+.09(30000-x)=2450

.08x-.09x+2700=2450

-.01x= -250

x=25000

x+y=30000

25000+y=30000

y=5000

25000 at 8%

5000 at 9%