SOLUTION: An investment consultant has deposited $5000 of a clients money into a 10% simple interes account. How much should be deposited into an 18% annual simple interest account so that

Question 34269: An investment consultant has deposited $5000 of a clients money into a 10% simple interes account. How much should be deposited into an 18% annual simple interest account so that the effective annual interest rate on both deposits is 14%
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Let the amount invested at 18% be "x".
EQUATION:
interest + interext = interest
0.10(5000) + 0.18x =0.14(5000+x)
Multiply thru by 100 to get:
10(5000)+18x = 14(5000+x)
50000 + 18x = 70000+14x
4x=20000
x=$5000.00 (amount invested at 18%)
Cheers,
Stan H.
RELATED QUESTIONS
an investment of $20,000 is made in a 10.5% simple interest account. How much additional... (answered by wuwei96815)

An Investment of $4400.00 is made into a 10.5% annual simple interest account. How much... (answered by checkley77)

an ivestment of $4400 is made into a 10.5% annual simple interest account. How much money (answered by josmiceli)

A deposit of $4000 is made into an account that earns 11% annual simple interest. How... (answered by ankor@dixie-net.com)

How do i set these equations up? An investment of $6000 is made into a 14% annual simple (answered by mananth)

How much money should be deposited into an account that earns 4.6% interest,compounded... (answered by ikleyn)

A team of cancer research specialists received a grant of $300,000 to be used for cancer... (answered by checkley71)

A team of cancer research specialists received a grant of 300,000 to be used for cancer... (answered by richwmiller)

Joanne has a total of $5000 deposited into two accounts. One account earns 5% interest... (answered by solver91311)