Kristina invests a total of $28,500 in two accounts. The first account earned a rate of return of 10% (after a year). However, the second account suffered a 4% loss in the same time period. At the end of one year, the total amount of money gained was $1,310.00. How much was invested into each account?

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10-07-2022
Mathematics

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Kristina invests a total of $28,500 in two accounts. The first account earned a rate of return of 10% (after a year). However, the second account suffered a 4% loss in the same time period. At the end of one year, the total amount of money gained was $1,310.00. How much was invested into each account?

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raphealnwobi raphealnwobi · Answer 1 · 2022-07-11T19:31:33+02:00

$17500 was invested in the first account at a rate of return of 10% (after a year) while $11000 was invested in the second account at a rate of 4% loss over the same period.

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

Let x represent the amount of money invested at 10% and y represent the amount of money invested at a loss of 4%, hence:

x + y = 28500 (1)

Also:

(x * 1 year * 0.1) + (y * 1 year * -0.04) = 1310

0.1x - 0.04y = 1310 (2)

From equation 1 and 2:

x = 17500, y = 11000

$17500 was invested in the first account at a rate of return of 10% (after a year) while $11000 was invested in the second account at a rate of 4% loss over the same period.

Find out more on equation at: https://brainly.com/question/2972832

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