SOLUTION: A total of $12,000 is invested in two accounts. The interest rate on one account is 9%; on the second account, the interest rte is 6%. How much should be invested in each account s

Question 1003100: A total of $12,000 is invested in two accounts. The interest rate on one account is 9%; on the second account, the interest rte is 6%. How much should be invested in each account so that both accounts earn the same amount of annual interest?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!

Part I 9.00% per annum ------------- Amount invested =x
Part II 6.00% per annum ------------ Amount invested = y =
12000
Interest----- equal

Part I 9.00% per annum ---x
Part II 6.00% per annum ---y
Total investment
x + y= 12000 -------------1
Interest on both investments
9.00% x = 6.00%
9x=6y
x= 2/3 y
plug in (1)
(2/3) y + y =12000
(2y+3y) /3 = 12000
5y = 36000
y = 7200
x = 4800

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