Answer:
$7,300 was invested in the 14% account while $2,700 was invested in the 8% interest account
Step-by-step explanation:
Let the amount invested in first account be $x while the amount for second account is $y
Mathematically;
x + y = 10,000 •••••••••(i)
Interest on first account
= 14% of x = 14/100 * x
Interest on second account
= 8% of y= 8/100 * y
Adding all together will give total
14/100 * x + 8/100 * y = 1238
Multiply through by 100
14x + 8y = 123800 •••••••(ii)
From equation 1, x = 10,000 - y
Insert this into second equation
14(10,000-y) + 8y = 123,800
140,000 - 14y + 8y = 123,800
140,000 - 6y = 123,800
6y = 140,000 - 123,800
6y = 16,200
y = 16,200/6
y = $2,700
Recall
x + y = 10,000
x = 10000 - y
x = 10,000 - 2,700
x = $7,300
