SOLUTION: How can 28,0000 be invested, part at 4% annual simple interest and the remainder at 10%, so that the interest earned by the two accounts is equal at the end of the year?

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Question 133394: How can 28,0000 be invested, part at 4% annual simple interest and the remainder at 10%, so that the interest earned by the two accounts is equal at the end of the year?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How can 28,0000 be invested, part at 4% annual simple interest and the remainder at 10%, so that the interest earned by the two accounts is equal at the end of the year?
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Let amt. invested at 4% be "x"; Interest is 0.04x dollars
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Amt invsted at 10% is "28000-x" ; Interest is 0.1(28000-x)=2800-0.1x
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EQUATION:
interest = interest
0.04x = 2800-0.10x
0.14x = 2800
x = $20000 (amount invested at 4%)
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28000-x = $8000 (amount invested at 10%)
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Cheers,
Stan H.