SOLUTION: Last year, Jim had $20,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 10% s

SOLUTION: Last year, Jim had $20,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 10% s

Algebra.Com

Question 991104: Last year, Jim had
$20,000
to invest. He invested some of it in an account that paid
5%
simple interest per year, and he invested the rest in an account that paid
10%
simple interest per year. After one year, he received a total of
$1850
in interest. How much did he invest in each account?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

A person has

currency units invested in 2 accounts.

One account earns

percent interest, and the other account earns

percent interest.

The two accounts earn a total of

interest in one year.

How much is invested in each account?

Let

be the amount invested at

percent. Then the amount invested at

percent is

, and:

Solve for

, then calculate

John

My calculator said it, I believe it, that settles it

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