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VMariaS [17]
2 years ago
12

Michael has $12,500 to invest. he invests part in an account which earns 4.2% annual interest and the rest in an account which e

arns 6.2% annual interest. he earns $669.50 in interest at the end of the year. how much was invested at each rate?
Mathematics
2 answers:
Dimas [21]2 years ago
8 0
Suppose he invest x dollars in one account, y in the other
x+y=12,500
0.042x+0.062y=669.50
multiple the first equation by 0.042: 0.042x+0.042y=525
subtract this new equation from equation 2: 0.02y=144.50
y=7225
x=12500-7225=5275
Lynna [10]2 years ago
3 0

The answer is $5,275 at 4.2%, $7,225 at 6.2%

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