SOLUTION: an investment of $12000 is deposited into 2 accounts one @5.5% and one @6.5% how much should be invested into each account so each account earns the same interest?
Algebra.Com
Question 102848: an investment of $12000 is deposited into 2 accounts one @5.5% and one @6.5% how much should be invested into each account so each account earns the same interest?
Answer by checkley75(3666) (Show Source): You can put this solution on YOUR website!
.065X=.055(12000-X)
.065X=660-.055X
.065X+.055X=660
.12X=660
X=660/.12
X=5500 INVESTED @ 6.5%
12000-5500=6500 INVESTED @ 5.5%
PROOF
.065*5500=.055*6500
3575=3575
RELATED QUESTIONS
An account executive deposited $40,000 into 2 simple interest accounts. One earns 5% and... (answered by josmiceli,stanbon)
an investment advisor invested 12000 into two accounts. one investment earned 7 % annual... (answered by checkley77)
Joanne has a total of $5000 deposited into two accounts. One account earns 5% interest... (answered by solver91311)
An investment club invested $7,500 into two simple interest accounts for one year. part... (answered by Boreal)
An investment of 10,800 is deposited into two simple interest accounts. On one account... (answered by josmiceli)
20000$ is split into two investments one paying 5% and the other paying 6.5% to the... (answered by mananth)
A total investment of $9,600is made into two savings accounts. One account yields 5%... (answered by PRMath,MathTherapy)
An investment club invested $7,500 into two simple interest accounts for one year. part... (answered by Boreal)
A total investment of is made into two savings accounts. One account yields 5% simple... (answered by stanbon)