SOLUTION: Jackson has investments totaling K8, 000 in two accounts – one a savings account paying
6% interest, and the other a premium account paying 9%. If the annual interest from the
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Question 1048227: Jackson has investments totaling K8, 000 in two accounts – one a savings account paying
6% interest, and the other a premium account paying 9%. If the annual interest from the
two investments was K600, how much did he have invested at each rate?
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
Let n be the amount invested at 9%. Then:
.09n+.06(8000-n)=600
.03n+480=600
.03n=120
n=K4000 invested at 9%, and K4000 invested at 6%. ☺☺☺☺
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