The amount invested in the account that has a rate of 14% is $1767
The amount invested in the account that has a rate of 6% is $1425.
What are the linear equations that represent the question
0.06a + 0.14b = 342 equation 1
b - a = $950 equation 2
Where:
a = amount invested in the account that has a rate of 6%
b = = amount invested in the account that has a rate of 14%
How much was invested in each account?
Multiply equation 2 by 0.06
0.06b - 0.06a = 57 equation 3
Subtract equation 3 from equation 2
285 = 0.2a
a = 285 / 0.2
a = 1425
Substitute for a in equation 2
b - 1425 = 342
b = 1425 + 342
b = $1767
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