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Derek invested \$12000 in two bank accounts, part at 4% annual interest and the rest at 5% annual interest.

How much did he invest in each account if the total interest at the end of one year is \$570?

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Let x = one investment
y = other
1) x + y = 12,000 ---> x=12,000-y
2) .04x + .05y = 570
Substitute 1) into 2).
.04(12,000 -y) + .05y = 570
480 - .04y + .05y = 570
-480. -480
.01y = 90
/.01 /.01
y = 9,000. x = 12,000-9,000=3,000
So x= \$3,000 & y=\$9,000 ANSWERS

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