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nikitadnepr [17]
3 years ago
8

Bonnie invested $8,000 in two accounts paying 5% and 6% annual interest. Her money earned a total of $445 in interest in one yea

r. How much was invested in each account?
Business
1 answer:
polet [3.4K]3 years ago
5 0

Answer:

6% = 4500

5% = 3500

Explanation:

wo equations can be derived from the question

x + y = $8,000 equation 1

0.05x + 0.06y = $445. equation 2

x = amount invested in 5%  

y =  amount invested in 6%  

multiply equation 1 by 0.05

0.05x + 0.05y = 400 equation 3

subtract equation 3 from 2

0.01y = 45

y = $4500

substitute for y in equation 1

8500 - 4500 = 3500

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