solving equations

Question

Maygen invested a total of 6,500 in two accounts. One account pays 7% interest annually; the other pays 4%interest annually. At the end of the year, Maygen earned a total of $380 in interest. How much money did Maygen invest in each account?

Write and solve a system of equations to answer the following questions.

Maygen invested (answer) in the 7% account.

Maygen invested  (answer)  in the 4% account.

Answer 1

.07x + .04(6500-x)= 380

.07x - .04x = 380- .04(6500)

.03x = 120

x= 120/.03 = $4,000 invested at 7%

$2,500 invested at 4%

.07(4K)=.28K

.04(2.5K)=.1K

.28+.1= .380K= 380