Best Answer

.06x+.08y=520

x+y=7000

solve for either the x or y in the x+y=7000 problem:

y=7000-x

now subsitute your new equation in for y:

.06x+.08(7000-x)=520

now solve:

.06x+560-.08x=520

-560 -560

.06x-.08x=-40

-.02x=-40

-.02 -.02

x=2000

then plug x into your x+y=7000 equation:

2000+y=7000

y=5000

SOOO, x=2000 @ 6%, y=5000 @8%

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Q: If you invested 7000 in two accounts paying 6 percent and 8 percent annual interest respectively If the total interest earned for the year was 520 how much was invested at each rate?

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