Samantha invests a total of $28,500 in two accounts. The first account earned a rate of return of 11% (after a year). However, the second account suffered a 10% loss in the same time period.

Question

Samantha invests a total of $28,500 in two accounts. The first account earned a rate of return of 11% (after a year). However, the second account suffered a 10% loss in the same time period. At the end of one year, the total amount of money gained was $510.00. How much was invested into each account?

Answer 1

x= about $16000 in 11%

28500 -16K= $12500 in -10%

x +y = 28500

.11x -.10y = 510

.10x +10y = 2850

add

.21x = 3360

x = 3360/.21 = 1120/.07 = 16000

y = 12500