You invested ​$27,000 in two accounts paying 5% and 6% annual​ interest, total interest earned for the year was $1420, how much was invested at each​ rate?

Question

You invested $27 comma 00027,000 in two accounts paying 5 %5% and 6 %6% annual interest, respectively.
If the total interest earned for the year was $ 1420 comma$1420, how much was invested at each rate?

Answer 1

X+y = 27000

y = 27000 - x

0.05x + 0.06y = 1420

5x + 6y = 142000

5x + 6(27000-x) = 142000

5x + 162000 - 6x = 142000

-x = -20000

x = 20000

y = 7000