SOLUTION: Two investments earn an annula income of $575. One investment earns an annual simple interest rate of 8.5% and the other investment earns an annual simple interest rate of 6.4%. Th
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Question 198298This question is from textbook Intermediate Algebra An Applied Approach
: Two investments earn an annula income of $575. One investment earns an annual simple interest rate of 8.5% and the other investment earns an annual simple interest rate of 6.4%. The total amount invested is $8000. How much is invested in each account?
This question is from textbook Intermediate Algebra An Applied Approach
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.085x+.064(8,000-x)=575
.085x+512-.064x=575
.021x=575-512
.021x=63
x=63/.021
x=3,000 ans. amount invested @ 8.5%
8,000-3,000=5,000 ans.amount invested @ 6.4%
Proof:
.085*3,000+.064*5,000=575
255+320=575
575=575
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