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 $\$$

Solution

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 \(\boxed{17000}\) dollars at 4% and \(\boxed{5000}\) dollars at 8%.

From Solvely APP
Source: https://solvelyapp.com/problems/36874/

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