Parnell unvested a total of $14000 in two accounts. After a year, one account lost 7.7% while the other account gained 2.5%. In total, Parnell lost $517. Write a system of equations to find how much money Parnell invested in each account.

Question

Eileen

Mathematics

2 December, 20:26

Parnell unvested a total of $14000 in two accounts. After a year, one account lost 7.7% while the other account gained 2.5%. In total, Parnell lost $517. Write a system of equations to find how much money Parnell invested in each account.

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Erica · Answer 1

Answer: the equations are

x + y = 14000

0.077x - 0.025y = 517

Step-by-step explanation:

Let x represent the amount invested in first account.

Let y represent the amount invested in second account.

Parnell invested a total of $14000 in two accounts. It means that

x + y = 14000

After a year, first account lost 7.7%. The amount lost in the first account is 7.7/100 * x = 0.077x.

The amount left in the first account is

x - 0.077x = 0.923x

On the other account gained, he gained 2.5%.

The amount gained in the second account is 2.5/100 * y = 0.025y

The amount left in the first account is

y + 0.025y = 1.025y

Total amount in first account and second account presently is

0.923x + 1.025y

Total amount in first account and second account initially is

x + y

Amount lost is

x + y - (0.923x + 1.025y)

= 0.077x - 0.025y

In total, Parnell lost $517. Therefore

0.077x - 0.025y = 517