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Theodore invests a total of $11,000 in two accounts paying 8% and 4% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $780.00.

________ was invested at 8% and

______ was invested at 4%.

Respuesta :

The amount loaned at the interest rate of 8% is $2,500.

The amount loaned at the interest rate of 4% is $8,500.

What are the linear equations that represent the question?

a + b = 11,000 equation 1

0.08a + 0.04b = 780 equation 2

Where:

  • a = amount loaned at the interest rate of 8%
  • b = = amount loaned at the interest rate of 4%

How much was loaned at 8% and 4%?

In order to determine how much was loaned at 4%, take the following steps:

Multiply equation 1 by 0.08

0.08a + 0.08b = 880 equation 3

Subtract equation 2 from equation 3:

0.04b = 100

Divide both sides by 0.04:

b =  $2500

Subtract 2,500 from 11,000 :

11,000 - 2,500 = $8,500

To learn more about interest, please check: brainly.com/question/26164549

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