Monico invests a total of $33,000 in two accounts paying 11% and 2% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $1,965.00.

Answer 1

X+y = 33 ---> y = 33-x

0.11x + 0.02y = 1.965 ---> 110x + 20y = 1965

110x + 20(33-x) = 1965

110x + 660 - 20x = 1965

90x + 660 = 1965

90x = 1305

x = 14.5

y = 18.5