Answer:
$2,500 was invested in the first account while $7,500 was invested in the second account
Step-by-step explanation:
Here in this question, we want to find the amount which was invested in each of the accounts, given their individual interest rates and the total amount that was accorded as interest from the two investments
Now, since we do not know the amount invested , we shall be representing them with variables.
Let the amount invested in the first account be $x and the amount invested in the second account be $y
Since the total amount invested is $10,000, this means that the summation of both gives $10,000
Mathematically;
x + y = 10,000 ••••••(i)
now for the $x, we have an interest rate of 5%
This mathematically translates to an interest value of 5/100 * x = 5x/100
For the $y, we have an interest rate of 6% and this mathematically translates to a value of 6/100 * y= 6y/100
The addition of both interests, gives 575
Thus mathematically;
5x/100 + 6y/100 = 575
Multiplying through by 100, we have
5x + 6y = 57500 •••••••••(ii)
From 1, we can have x = 10,000-y
let’s substitute this into equation ii
5(10,000-y) + 6y = 57500
50,000-5y + 6y = 57500
50,000 + y = 57500
y = 57500-50,000
y = 7,500
Recall;
x = 10,000-y
so we have;
x = 10,000-7500 = 2,500
