Question

Helene invested a total of $1000 in two simple-interest bank accounts. One account paid 5% annual interest; the other paid 6% annual interest. The total amount of interest she earned after 1 year was $58. Find the amount invested in each account? Show your work

Answer 1

100% of $X plus 100% of $Y equals $1000 4% of $X plus 6% of $Y equals $58 To solve that clear the second equation of decimals by multiplying through by 100: Solve that by either substitution or by elimination: X = $100 at 4% and $900 at 6%