x + y = 5,000
y = 5,000 - x
Representation:
Investment at Bank 1: x
Investment at Bank 2: 5,000-x
Interest:
Bank 1: 0.08 (x)
Bank 2: 0.09 (5,000-x)
Equation:
0.08 (x) + 0.09 (5,000-x) = 435
0.08x + 450 - 0.9x = 435
0.09x - 0.08x = 450 - 435
0.01x = 15
0.01x/0.01 = 15/0.01
x = 1,500
Investments:
Bank 1: x = $ 1,500
Bank 2: 5,000-1,500 = $3,500
ANSWER: $1,500 invested at 8% and $ 3,500 invested at 9%.
Check:
Investments:
$1,500 + $3,500 = $ 5,000
Interest:
0.08 ($1,500) + 0.09 ($3,500) = $435
$120 + $315 = $435
$435 = $435
