SOLUTION: Two investments earn an annual income of $575. One investment earns an annual simple interest rate of 8.5%, and the other investment earns an annual simple interest rate of 6.4%. t
Algebra.Com
Question 8296: Two investments earn an annual income of $575. One investment earns an annual simple interest rate of 8.5%, and the other investment earns an annual simple interest rate of 6.4%. the amount invested is $8000. How much is invested in each account?
Answer by srinivas123(23) (Show Source): You can put this solution on YOUR website!
Two investments earn an annual income of $575. One investment earns an annual simple interest rate of 8.5%, and the other investment earns an annual simple interest rate of 6.4%. the amount invested is $8000. How much is invested in each account?
let the amount given for 8.5 % simple interest be x.
Then it is obvious that the other amount is 8000-x.
Interest earned on first amount = ptr/100 = x*1*8.5/100.
Interest earned on second amount = ptr/100 = 8000-x*1*6.4 / 100
so the total interest is 8.5x/100 + 6.4*(8000-x)/100
(8.5x+51200-6.4x) = 575*100
2.1x = 57500-51200 = 6300 ----> x= 6300/2.1 =3000.
So the first amount is $3000. and second amount is $5000
----------------------------------------
Please dont pay if u are asked to .
RELATED QUESTIONS
Two investments earn an annual income of $575. One investment earns an annual simple... (answered by Mathtut)
Two investments earn an annula income of $575. One investment earns an annual simple... (answered by checkley77)
Two investments earn an annual income of $478.40. One investment earns an annual simple... (answered by mananth)
Two investments earn an annual income of $221. One investment earns an annual simple... (answered by checkley79)
Cabin Financial Service Group recommends that a client purchase for $10,000 a corporate... (answered by ikleyn,MathTherapy,greenestamps)
Two investments totaling $42,500 produce an annual income of $3055. One investment yields (answered by jorel1380)
Joeseph Smith is the manager of a trust. He invested 30% of a clients cash in gov't bonds (answered by checkley77)
Joseph is the manager of a trust. he invested 30% of a clients cash in government bonds... (answered by jorel1380)
A man has two investments totalling $10,000. On one he receives 8% interest and on the... (answered by mananth)