SOLUTION: How can $54000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal

Question 192634This question is from textbook
: How can $54000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal This question is from textbook

Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Let x = the amount invested at 8%, then (54000-x) will be the amount invested at 10%. Convert the percentages to their decimal eqivalents: 8% = 0.08 and 10% = 0.1
Now you can write the equation:
0.08x = 0.1($54000-x) Solve this for x.
0.08x = $5400-0.1x Add 0.1x to both sides of the equation.
0.18x = $5400 Divide both sides by 0.18
x = $3000 and $54000-$3000 = $24000
$3,000 is invested at 8%
$2,400 is invested at 10%
RELATED QUESTIONS
how can $54000 be invested, part at 12%annual simple interest and the remainder at 6%.so... (answered by mananth)

how can $54000 be invested part at 6% annual simple interest and the remainder at 12%... (answered by checkley79)

How can 54,000 be invested, part at 8% annual simple interest and the remainder at... (answered by checkley77)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by drk)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by josmiceli)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by ewatrrr)

How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10%... (answered by solver91311)

how can 42,000 be invested, part at 4% annual simple interest and the remainder at 10%... (answered by checkley77)

How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10%... (answered by checkley77)