Question

Lakisha has a total of $8000 to invest in two accounts for 1 year. One account pays 5% simple interest and the other pays 6% simple interest. How much should she invest in each account so the total interest earned is $438?

Answer 1

0.05x + 0.06y = 438
x + y = 8000

x + 1.2y = 8760
x + y = 8000

Subtract equations

0.2y = 760
y = 3800

8000-3800 = x = 4200

$4200 into 5%
$3800 into 6%