Answer:
The system of equations best represents the situation
x + y = 17,000.... Equation 1
0.025x + 0.065y = 550... Equation 2
Step-by-step explanation:
Let
x represent the amount of money invested in the first account and
y represent the amount of money invested in the second account.
We are told that:
Tyrone had $17,000 to invest.
Hence,
x + y = $17,000
x + y = 17,000..... Equation 1
We also known that:
He invested part of that amount at 2.5% annual interest for one year and the other part at 6.5% annual interest for one year. The amount of interest earned for both investments was $550
The formula for Interest =
Principal(Amount invested) × Rate × Time.
Hence:
25% × x + 6.5% × y = 550
0.025x + 0.065y = 550... Equation 2
The system of equations best represents the situation
x + y = 17,000.... Equation 1
0.025x + 0.065y = 550... Equation 2
