Intermediate Algebra for College Students (7th Edition)

Published by Pearson
ISBN 10: 0-13417-894-7
ISBN 13: 978-0-13417-894-3

Chapter 3 - Section 3.2 - Problem Solving and Business Applications Using Systems of Equations - Exercise Set - Page 205: 13

Answer

Amount invested in the first account is 2000 and the amount invested in the second account is 5000.

Work Step by Step

Suppose $x$ denotes the amount invested in the first account and $y$ denotes the amount invested in the second account . As per the statement we can understand that $x+y=7000$ and $0.06x+0.08y=520$ The first equation can be written as: $0.06x+0.06y=420$ After solving the second equation and third equation, we have $0.02y=100$ or, $y=5000$ Now, $5000+x=7000 \implies x=2000$ Thus, we find that the amount invested in the first account is 2000 and the amount invested in the second account is 5000.
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