SOLUTION: 28,000 is invested, part at 4% and the remainder at 10% annual interest. The interest earned by the two accounts is equal at the end of the year. How much was invested at 4%?

Algebra ->  Expressions-with-variables -> SOLUTION: 28,000 is invested, part at 4% and the remainder at 10% annual interest. The interest earned by the two accounts is equal at the end of the year. How much was invested at 4%?      Log On


   

Question 265124: 28,000 is invested, part at 4% and the remainder at 10% annual interest. The interest earned by the two accounts is equal at the end of the year. How much was invested at 4%?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.10X=.04(28,000-X)
.10X=1.120-.04X
.10X+.04X=1,120
.14X=1,120
X=1,120/.14
X=8,000 AMOUNT INVESTED @ 10%.
28,000-8,000=20,000 AMOUNT INVESTED @ 4%.
PROOF:
.10*8,000=.04*20,000
800=800