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
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