Question

Set up a linear system and solve
A $2,000 principal is invested in two accounts, one earning 4% interest and another
earning 7% interest. If the total interest for the year is $101, then how much is invested
in each account

Answer 1

Answer:

1300 and 700 respectively.

Step-by-step explanation:

Let x be invested in first account and y be invested in second account.

ATQ, x+y=2000 and 101=(4)*x/100+7*y/100. Solving it will give us x=1300 and y=700