Question

Tyrone had $17,000 to invest. 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. Let x represent the amount of money invested in the first account and y represent the amount of money invested in the second account. Which system of equations best represents the situation?

Answer 1

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