SOLUTION: How can $39,000 be invested, part at 8% annual simple interest and the remainder at 5% annual simple interest, so that the interest earned by the two accounts will be equa

Question 1193976: How can $39,000 be invested, part at 8% annual simple interest and the remainder at 5% annual simple interest, so that the interest earned by the two accounts will be equal?
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
.

a TWIN problem was solved 10 minutes ago for you under this link

https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1193974.html

Consider it as your TEMPLATE and solve the current problem in the same way.

Answer by greenestamps(13198) (Show Source): You can put this solution on YOUR website!

If the amounts of interest from the two investments at 8% and 5% are equal, then the amounts invested at the two rates must be in the ratio 5:8. So

5x = amount invested at 8%
8x = amount invested at 5%

The total amount invested was $39,000:

5x+8x=39000
13x=39000
x=3000

ANSWER: The amounts of interest are the same if 5x=$15,000 is invested at 8% and 8x=$24,000 is invested at 5%.

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SOLUTION: How can $39,000 be​ invested, part at 8% annual simple interest and the remainder at 5% annual simple​ interest, so that the interest earned by the two accounts will be​ equa

SOLUTION: How can $39,000 be invested, part at 8% annual simple interest and the remainder at 5% annual simple interest, so that the interest earned by the two accounts will be equa