Last year, Yoko had 20.000$ to invest. She invested some of it in an account that paid 6% simple interest per year, and she invested the rest in an account that paid 5% simple interest per year. After one year, she received a total 1160$ of in interest. How much did she invest in each account?

Let x represent the amount invested at the higher interest rate of 6%. Then (20000-x) is the amount invested at the lower rate of 5%. The total interest earned is the sum of the interest amounts on the two investments.

6%(x) +5%(20000 -x) = 1160

Solution

Simplifying the equation gives ...

0.01x +1000 = 1160

0.01x = 160 . . . . . . . . subtract 1000

x = 16000 . . . . . . . . . multiply by 100

20000-x = 20000 -16000 = 4000 . . . . amount invested at 5%

Yoko invested $16,000 at 6% and $4,000 at 5%.

sheenuvt12 sheenuvt12 · Answer 2 · 2022-08-25T07:03:53+02:00

In each account she invest 12000 and 4000.

What is Investment?

Investment definition is an asset acquired or invested in to build wealth and save money from the hard earned income or appreciation. Investment meaning is primarily to obtain an additional source of income or gain profit from the investment over a specific period of time.

Let x be the amount Milan invested in an account that paid 6% interest

Let y be the amount Milan invested in an account that paid 5% interest

So,

x + y = 20,000

x = 20,000 - y

Now,

0.06x +0.05y = 1160

6x + 5y = 116,000

6(20,000-y) + 5y = 116,000

1,20,000 - 6y + 5y = 116,000

-y = -4000

y = $4,000

x = 20,000 - 4000

x = $12000

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