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1. We want to know the amount of money invested in each account– in other words, we want to know the amount invested in the 5% account and the amount invested in the 3% account.

   Each of the things we are trying to find will be represented by a variable:

   x = amount invested at 5%

   y = amount invested at 3%

   Since we have two variables to solve for, we will need to find a system of two equations to solve.

   We are given two numbers in the problem:

   $70,000 = total money invested in both accounts

   $2,350 = total interest earned in both accounts

   Let’s start with the $70,000. Elena wants to split this money into two parts. We have chosen to call the two parts x and y.

   Since these two parts must total to $700,000, this gives us our first equation:

   x + y = 70,000

   Now let’s look at the $2,350, the interest earned on the two accounts together.

   Let’s think about the formula for calculating simple interest :

   Interest = (Principle)(Rate)(Time)

   Since the time period in this problem is one year, our simple interest equation becomes:

   Interest = (Principle)(Rate)(1)

   or

   Interest = (Principle)(Rate)

   Each account has a different amount of money invested in it (either x dollars or y dollars), and each account has a different interest rate (either 5% or 3%). This gives us the following:

   Interest earned on x dollars = (x)(5%) = .05x

   and

   Interest earned on y dollars = (y)(3%) = .03y

   The total interest earned in both accounts is $700, so our second equation is:

   Interest earned on x dollars + interest earned on y dollars = total interest

   .05x + .03y = 2,350

   If we multiply both sides of this equation by 100 to clear the decimals, it becomes:

   5x + 3y = 23,500

   Now we’ll solve the system of equations:

   x + y = 70,000

   5x + 3y = 23,500

   Multiply the first equation by -3, then add the equations:

   -3x – 3y = -210,000

   5x + 3y = 23,500

   x = – 93,250

   Ann invested $ – 93,250 in the account that pays 5% interest.

   To find the amount invested in the other account, substitute – 93,250 for x in either of our equations. We’ll choose the easier equation:

   x + y = 70,000

   -93,250 + y = 70,000

   y = 163,250

   Ann invested $163,250 in the account that pays 3% interest.

   Learn more about solving linear equations at : https://brainly.in/question/2582402

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