SOLUTION: A total of P600 000 is deposited into two simple interest accounts. On one account the annual simple interest rate is 8%, while on the second account the annual simple interest rat
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Question 169878: A total of P600 000 is deposited into two simple interest accounts. On one account the annual simple interest rate is 8%, while on the second account the annual simple interest rate is 12%. How much should be invested in each account so that the total annual interest earned is P52 000?
please give me the table of your solution.
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!
Let = amount inv. @ 12%
So, =amount inv. @ 8%
It follows:
, EQN 1
x=100,000 ---------> amount inv. @ 12%
.
=500,000 -------> amount inv.@8%
Let's check using Simple Annual Interest:
=40,000
=12,000
Therefore,
Thank you,
Jojo
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