Suppose that you invest $13100.00 between two accounts. The first account is safer and yields 4.2% interest. The second account is riskier, but yields an interest rate of 9.9%. Letting x denote the amount of money invested in the first, safer account, and letting y denote the amount of money invested in the second, riskier account,

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter4: Systems Of Linear Equations
Section4.3: Solve Mixture Applications With Systems Of Equations
Problem 4.55TI: Translate to a system of equations and solve: Leon had $50,000 to invest and hopes to earn 6.2%...
icon
Related questions
icon
Concept explainers
Topic Video
Question
100%

Suppose that you invest $13100.00 between two accounts. The first account is safer and yields 4.2% interest. The second account is riskier, but yields an interest rate of 9.9%. Letting x denote the amount of money invested in the first, safer account, and letting y denote the amount of money invested in the second, riskier account, setup a system of linear equations which you could solve to find out how much money you should invest in the accounts so that you earn $897.90 in interest per year.

Equation 1?

Equation 2?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt