You invested $28,000 in two accounts paying 6% and 8% annual interest, respectively. If the total interest earned for the year was $2100, how much was invested at each rate?

At 6% interest rate, amount invested = $7000

At 8% interest rate, amount invested = $21000

Step-by-step explanation:

Let amount invested in one account be x and amount invested in the other be y.

Thus;

x + y = 28000 - - - - (eq1)

Interest rate for them are 6% and 8% annually.

We are told that total interest earned for the year was $2100

Thus;

0.06x + 0.08y = 2100 - - - - (eq 2)

Make x the subject in equation 1.

x = 28000 - y - - - - (eq 3)

Put 28000 - y for x in eq 2

0.06(28000 - y) + 0.08y = 2100

1680 - 0.06y + 0.08y = 2100

0.02y = 2100 - 1680

0.02y = 420

y = 420/0.02

y = 21000

Put 21000 for y in eq 3 to get;

x = 28000 - 21000

x = 7000

Thus amount invested in each account is;

At 6% interest rate, amount invested = $7000

At 8% interest rate, amount invested = $21000

22 dimes and 9 nickels

step-by-step explanation:

yes

step-by-step explanation:

yes