# Thread: need help on setting up a formula

1. ## need help on setting up a formula

Most of Conservative Casey's money was put into a savings account that
paid 5% interest a year, but some of it was put into a risky stock fund that paid 16% a year. Casey's total initial investment in the two acounts was $10000. At the end of the first year, Casey recieved a total of$775 in interest from the two accounts. Find the amount invested in each.

I did guess and check. Started out with 8000 and 2000 got 720 in interest. then I tried 7500 and 2500 and got the answer 775.
Getting tired of guessing all the time. I wish I was better at algebra.

How can I solve this with algebra?

Vicky.

2. x is the amount invested in the savings account, y is the amount invested in the risky stock, therefore...

$x+y= 10000$

$1.05x+1.16y= 10775$

Can you solve these now?

3. Thank you.!!!!!!!!!!!

I see I can substitute Y for 10000 - X and then solve for X.

Vicky.

4. Or you can take a shorter route; one variable only:

Let x = 5% amount; then 10000 - x = 16% amount
Then:
.05x + .16(10000 - x) = 775