SOLUTION: Last year, Ann had $20,000 to invest. She invesed some of it in an account that paid 8% simple interest per year, and she invested th rest in an account that paid 10% simple intere

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Last year, Ann had $20,000 to invest. She invesed some of it in an account that paid 8% simple interest per year, and she invested th rest in an account that paid 10% simple intere      Log On


   

Question 1085558: Last year, Ann had $20,000 to invest. She invesed some of it in an account that paid 8% simple interest per year, and she invested th rest in an account that paid 10% simple interest per year. After one year, she received a total of $1860 in interest. How much did she invest in each account?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
0.08x+0.10(20,000-x) = 1860
x = 7,000 So she invested 7,000 at 8% and 20,000-7,000 = 13,000 at 10%