Let x represent the amount invested in the account paying 5% interest per year. Let y represent the amount invested in the GIC paying 7.2% interest. x + y = $5,000 ⇒ y = $5,000 - x 0.05x + 0.072 = $349 ⇒ (multiply by 1000 to get rid of decimals) ⇒ 50x + 72y = $349,000 Then substitute the y equation into the second equation. 50x + 72 (5,000 - x ) = 349,000 50x + 360,000 - 72x = 349,000 50x - 72x = 349,000 - 360,000 -22x = -11,000 (divide both sides by -22) x = 500 ∴ the amount invested in the account paying 5% interest per year is $500. Now solve for y. x + y = 5,000 500 + y = 5,000 y = 5,000 - 500 y = 4,500 ∴ the amount in the GIC paying 7.2% interest is $4,500.