SOLUTION: an investment advisor invested 12000 into two accounts. one investment earned 7 % annual simple interest and the other investment earned 6.5% annual simple interest. the amount of
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Question 237159: an investment advisor invested 12000 into two accounts. one investment earned 7 % annual simple interest and the other investment earned 6.5% annual simple interest. the amount of interest for 1 year was 820. How much was invested at 6.5 %
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.07X+.065(12,000-X)=820
.07X+780-.065X=820
.005X=820-780
.005X=40
X=40/.005
X=8,000 AMOUNT INVESTED @ 7%.
12,000-8,000=4,000 AMOUNT INVESTED @ 6.5%
PROOF:
.07*8,000+.065*4,000=820
560+260=820
820=820
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