Nancy invested $8,000, some at 5% and some at 9% annual interest. If er combined annual interest is $ 620, find the amount in each account.

BOX PROBLEM URGENT!!!!

SmartMathMan May 7, 2019

#1**0 **

For how many years is that interest?

I will assume 1 year

x = 5% amount

8000 - x = 9% amount

.05 x + .09 (8000-x ) 620

.05x - .09 x + 720 = 620

-.04x = -100

x = $ 2500 in 5% account the remainder 8000-2500 = $ 5500 = amount in 9% account

ElectricPavlov May 7, 2019

#2**+1 **

Wel...I don't know what a "box problem," is....but....we can still solve this

Let the amount invested at 5% = A

Let the amount invested at 9% = 8000 - A

So.....using

Principal * interstest rate = interest earned, we have that

5% * A + 9% * ( 8000 - A) = 620

.05A + .09 (8000 - A) = 620

.05A + 720 - .09A = 620

-.04A + 720 = 620 subtract 720 from each side

-.04A = -100 divide both sides by -.04

A = $2500 = the amount at 5%

Which means that the amount at 9% = 8000 - 2500 = $5500

CPhill May 7, 2019