SOLUTION: Allison invests a total of $20,000 in two accounts, one paying 5% and the other paying 8% simple interest per year. Her annual interest is $1180. How much did she invest at each

Question 1104392: Allison invests a total of $20,000 in two accounts, one paying 5% and the
other paying 8% simple interest per year. Her annual interest is $1180. How much did she invest at each rate?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
Let the amount at 5% be x
the amount at 8% is 20000-x
-------------------------
0.05x+0.08(20000-x) = 1180
0.05x+1600-0.08x = 1180
-0.03x = -420
x = 14000 this is the amount invested at 5%
the amount at 8% is: 20000-14000 = 6000
------------------------
check:
0.05(14000)+0.08(6000) = 700+480 = 1180 Correct
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