SOLUTION: $2000 more is invested in an account earning 12% simple interest than in an account earning 8% simple interest. If the total interest at the end of 1 year is $1240, how much was i
Algebra.Com
Question 1052386: $2000 more is invested in an account earning 12% simple interest than in an account earning 8% simple interest. If the total interest at the end of 1 year is $1240, how much was invested in each account?
Found 2 solutions by ewatrrr, MathTherapy:
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
Let x be the amount at 8%
.12(x+ 2000) + .08x = $1240
.20x = $1000
x = $1000/.2
x = $5000, amount at 8%. $10,000 at 12%
Answer by MathTherapy(10551) (Show Source): You can put this solution on YOUR website!
$2000 more is invested in an account earning 12% simple interest than in an account earning 8% simple interest. If the total interest at the end of 1 year is $1240, how much was invested in each account?
RELATED QUESTIONS
Barneys money earned $204 in interest after 1 year. He invested some of is money in an... (answered by richwmiller)
Jerome invested some money in an account earning 7% simple interest and $3000 more than... (answered by josgarithmetic)
Susan inherited $12,000 and invested some of it in an account earning 5% simple interest... (answered by mananth)
Janay invested a total of $1200, some in an account earning 6% simple interest, and the... (answered by TimothyLamb)
Mahmoud invested 6000 in two accounts, some of it at 2% simple interest, the rest in an... (answered by josmiceli)
Michelle earned a total of $549 in simple interest from two separate accounts. In an... (answered by ikleyn)
John earned a total of $988 in simple interest from two separate accounts. In an account... (answered by Boreal)
Bill earned a total of $734 in simple interest from two separate accounts. In an account... (answered by Alex.33)
George earned a total of $533 in simple interest from two separate accounts. In an... (answered by Alex.33)