Question

Ms. Wilson invested ​$34000 in two​ accounts, one yielding 8​% interest and the other yielding 9​%. If she received a total of​ $2910 in interest at the end of the​ year, how much did she invest in each​ account?

Answer 1

Amount invested at 8 % rate = x = $ 15000

Amount invested at 9 % rate = 34000 - x = 34000 - 15000 = $ 19000

Explanation:

Total Amount = $ 34000

Let amount invested at 8 % rate = x

Amount invested at 9 % rate = $ 34000 - x

Total interest = $ 2910

`2910 = (x (8) (1))/(100) + ((34000-x) (9) (1))/(100)`

291000 = 8 x + 306000 - 9 x

x = 306000 - 291000

x = 15000

So amount invested at 8 % rate = x = $ 15000

Amount invested at 9 % rate = 34000 - x = 34000 - 15000 = $ 19000