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Amy has $5000 to invest. She plans to invest part of the money at 10% and part at 13%. She wants her total interest to be $590. How much should she invest at each rate?

Respuesta :

The amount invested in the account that earns 10% interest  is $2000.

The amount invested in the account that earns 13% interest  is $3000.

What are the linear equations that represent the question?

a + b = 5000 equation 1

0.1a + 0.13b = 590 equation 2

Where:

  • a = amount invested in the account that earns 10% interest
  • b = amount invested in the account that earns 13% interest

How much was invested in the account that earns 13% interest ?

Multiply equation 1 by 0.1

0.1a + 0.1b = 500 equation 3

Subtract equation 3 from equation 1

90 = 0.03b

Divide both sides by 0,03

b = $3000

How much was invested in the account that earns 10% interest ?

Subtract $3000 from $5000: 5000 - 3000 = $2000

To learn more about simultaneous equations, please check: https://brainly.com/question/25875552

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