Problem

Ms. Suzuki invested $22,000 in two accounts, one yielding 4% interest and the other yielding 8%. If she received a total of $1,080 in interest at the end of the year, how much did she invest in each account?
The amount invested at 4% was $

Answer

Expert–verified
Hide Steps
Answer

Final Answer: Ms. Suzuki invested 17000 dollars at 4% and 5000 dollars at 8%.

Steps

Step 1 :Let's denote the amount invested at 4% as x and the amount invested at 8% as y.

Step 2 :We know that the total amount invested is $22,000, so we can write the equation as x+y=22000.

Step 3 :We also know that the total interest earned is $1,080, so we can write another equation as 0.04x+0.08y=1080.

Step 4 :We can solve this system of equations to find the values of x and y.

Step 5 :The solution to the system of equations is x=17000 and y=5000.

Step 6 :Final Answer: Ms. Suzuki invested 17000 dollars at 4% and 5000 dollars at 8%.

link_gpt