SOLUTION:
A total of $16,000 is invested in two college savings accounts paying 5% and 6% annual interest. The combines annual interest is $860. how much of the $16000 is invested in eac
Algebra.Com
Question 717259:
A total of $16,000 is invested in two college savings accounts paying 5% and 6% annual interest. The combines annual interest is $860. how much of the $16000 is invested in each account
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
.05x+.06(16,000-x)=860
.05x+960-.06x=860
-.01x=860-960
-.01x=-100
x=-100/-.01
x=$10,000 invested @ 5%
16,000-10,000=6,000 invested @ 6%.
Proof:
.05*10,000+.06*6,000=860
500+360=860
860=860
RELATED QUESTIONS
A teenager has $10,000 invested in a checking
account paying 2.5% per year and a savings
(answered by math_helper)
A total of $4100 is invested into two accounts paying 3% and 5% annual interest.... (answered by checkley79)
A total of $16,000 is invested in two individual retire-ment accounts paying 5% and 6%... (answered by mananth)
Samantha invests a total of $25,000 in two accounts paying 7% and 4% annual interest,... (answered by Boreal)
Dilbert invests a total of $20,000 in two accounts paying 11% and 2% annual interest,... (answered by josgarithmetic,greenestamps,Alan3354)
A total of $3800 is invested into two accounts paying 4% and 7% annual interest. In one... (answered by mananth)
Estefania invests a total of P24,000 in two accounts paying 7% and 6% annual interest,... (answered by ikleyn)
A total of $50,000 is invested in two funds paying 5% and 6% annual interest. The annual... (answered by checkley77)
Jackson has investments totaling K8, 000 in two accounts – one a savings account paying
(answered by jorel555)