SOLUTION: How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal?

Question 340401: How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

Let

represent the amount (in 1000s) invested at 8% and then

must represent the amount invested at 10%. That means the amount earned at 8% must be

and the amount earned at 10% must be

Solve for

to find the amount to invest at 8%, and the balance would be invested at 10%. Remember that your answer is going to be in terms of 1000s of dollars.

John

My calculator said it, I believe it, that settles it

RELATED QUESTIONS
How can $54000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by Earlsdon)

How can 54,000 be invested, part at 8% annual simple interest and the remainder at... (answered by checkley77)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by drk)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by josmiceli)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by ewatrrr)

how can 42,000 be invested, part at 4% annual simple interest and the remainder at 10%... (answered by checkley77)

How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10%... (answered by checkley77)

How can $42,000 be invested, part at 4% annual simple interest and the remainder at 10%... (answered by josmiceli)

How can $39,000 be invested, part at 8% annual simple interest and the remainder at 5% (answered by ikleyn,greenestamps)