SOLUTION: An executive invested $18,000 in two accounts, one a cash on reserve that yielded 7% simple interest, and the other a long-term certificate paying 11% simple interest. At the end o

Question 397195: An executive invested $18,000 in two accounts, one a cash on reserve that yielded 7% simple interest, and the other a long-term certificate paying 11% simple interest. At the end of one year, the two accounts had earned her a total of $1540. How much had she invested in each account?� How do i set this up as an algebra equation?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 7%
Let = amount invested @ 11%
given:
(1)
(2)
----------------------
Multiply both sides of (1) by
(1)
Multiply both sides of (2) by
and subtract (2) from (1)
(1)
(2)

and, from (2),

$11,000 was invested @ 7%
$7,000 was invested @ 11%

RELATED QUESTIONS
abe invested a total of $13,000 in two accounts , one paying 5% interest and the other 7% (answered by ewatrrr)

an executive nearing retirement made two investments totaling $45000. in one year these... (answered by rfer)

Investments. An executive nearing retirement made Two investments totaling $45,000. In... (answered by rfer)

I am having a problem of putting the following into an linear equation. A company... (answered by htmentor)

An account executive deposited $36,000 into two simple interest accounts. On the tax-free (answered by solver91311)

a person had $14,000 invested in two accounts, one paying 9% simple interest and one... (answered by ikleyn)

I have tried so many times but can not figure this one out... You have a total of $15... (answered by Alan3354,josmiceli)

Suppose $5,000 is divided into two bank accounts. One account pays 5% simple interest per (answered by stanbon)

A total of P600 000 is deposited into two simple interest accounts. On one account the... (answered by jojo14344)