Question

8. Lara invested a total of $1000 in two simple interest accounts. Account A pays

Answer 1

Answer:

• $200 at 5%
• $800 at 6%

Step-by-step explanation:

Let x represent the amount invested at the higher rate. Then 1000-x is the amount invested at the lower rate. The total earnings are ...

  0.05(1000-x) +0.06x = 58

  50 +0.01x = 58 . . . . . . . . . . . simplify

  0.01x = 8 . . . . . . . . . . . . . . . subtract 50

  x = 800 . . . . . . . . . . . . . . . multiply by 100; amount at 6%

  (1000-x) = 200 . . . . . . . find the amount invested at 5%

Lara invested $200 at 5% and $800 at 6%.