SOLUTION: blake has a total of $1600 to invest in two accounts. One account earns 2% simple interest, and the othr account earns 9% simple interest. How much should be invested in both accou
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Question 281949: blake has a total of $1600 to invest in two accounts. One account earns 2% simple interest, and the othr account earns 9% simple interest. How much should be invested in both accounts to earn exactly $102 at the end of one year?
Answer by brucewill(101) (Show Source): You can put this solution on YOUR website!
Let x = the amount invested in the 2% account.
Then (1600-x) = the amount invested in the 9% account.
Multiply through by 100 to clear decimals
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add 9x to both sides, and subtract 14400 from both sides
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divide both sides by -7
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amount at 2% $600; amount at 9% $1000.
$600 * 2% = $12
$1000 * 9% = $90
Total interest: $102.
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