(2 points) Suppose that you invest $14600.00 between two accounts. The first account is safer and yields 4.7% interest. The secondaccount is riskier, but yields an interest rate of 7%. Letting x denote the amount of money invested in the first, safer account, and lettingy denote the amount of money invested in the second, riskier account, setup a system of linear equations which you could solve to findout how much money you should invest in the accounts so that you earn $881.70 in interest per year.IEquation 1:Equation 2:

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TrendonE198511 TrendonE198511 · Answer 1 · 2022-10-29T15:51:09+02:00

SOLUTION

Given the question in the image, the following are the solution steps to answer the question.

STEP 1: Get the first equation

Since the two amounts x and y are said to sum up to be $14600.00, therefore the first equation will be given as:

[tex]x+y=14600[/tex]

STEP 2: Get the second equation

The first safer account yields 4.7% interest, this will be given as:

[tex]\frac{4.7}{100}\times x=0.047x[/tex]

The second riskier account yields 7% interest, this will be given as:

[tex]\frac{7}{100}\times y=0.07y[/tex]

These two interests sum up to be $881.70, this therefore will be given as:

[tex]0.047x+0.07y=881.70[/tex]

Hence, the two equations will be:

[tex]\begin{gathered} x+y=14600 \\ 0.047x+0.07y=881.70 \end{gathered}[/tex]