Question

Hattie had $3,000 to invest and wants to earn 10.6% interest per year. She will put some of the money into an account that earns 12% per year and the rest into an account that earns 10% per year. How much money should she put into each account?

Answer 1

Answer:

900 at 12%

2100 at 10%

Step-by-step explanation:

Let x= amount invested at 12%

let y= amount invested at 10%

with that being said we can write the two equation

Equation 1: x+y=3000

Equation 2: 3000*.106=.12x+.1y

isolte x from equation 1

x= 3000-y

plug this into equation 2

318=.12(3000-y)+.1y

318=360-.12y+.1y

-42= -.02y

y= 2100

Plug this into equation 1

x+2100=3000

x=900