Answer:
5300
Explanation:
Let;
amount in account 1 be denoted as x
amount in account 2 be denoted as y
Therefore;
x + y = $10,000 .........equation 1
Account 1 earns 7% interest,
7% of x = 0.07x
Account 2 earns 12% interest,
12% of y = 0.12y
Total interest earned after 1 year = $965
therefore;
0.07x + 0.12y = 965..........equation 2
From equation 1,
x = 10000 - y .........equation 3
If we substitute equation 3 into equation 2, we have;
0.07(10000 - y) + 0.12y = 965
700 - 0.07y + 0.12y = 965
0.12y - 0.07y = 965 - 700
0.05y = 265
y = 265 ÷ 0.05
y = $5300
Therefore the amount Dana invested into the 12% account is $5300
