Answer:
$8000 was invested into the account paying 6% interest. $14,500 was invested into the account paying 14% interest.
Step-by-step explanation:
Let "a" be the money invested in the first account
let "b" be the money invested in the second account
The equation for the total interest is:
0.06a + 0.14b = 2510
I converted 6% and 14% to decimal form by dividing by 100.
The equation for total investment is:
a + b = 22500
Solve the system between these two equations:
Rearrange a + b = 22500 to isolate one of the variables.
a + b = 22500
b = 22500 - a
Substitute b = 22500 - a into the other equation
0.06a + 0.14b = 2510
0.06a + 0.14(22500-a) = 2510 Use distributive property over brackets
0.06a + 3150 - 0.14a = 2510 Combine the like terms with variable "a"
3150 - 0.08a = 2510 Subtract 3150 from both sides
-0.08a = -640 Divide both sides by -0.08
a = 8000
Substitute a = 8000 into the simpler equation to find "b"
b = 22500 - a
b = 22500 - 8000
b = 14500
Therefore $8000 was invested into the account paying 6% interest. $14,500 was invested into the account paying 14% interest.
