SOLUTION: how can $54000 be invested part at 6% annual simple interest and the remainder at 12% annual simple intrest so that the intrest earned by the two acoounts will be equal?
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Question 408999: how can $54000 be invested part at 6% annual simple interest and the remainder at 12% annual simple intrest so that the intrest earned by the two acoounts will be equal?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
.12X=.06(54,000-X)
.12X=3,240-.06X
.12X+.06X=3240
.18X=3,240
X=3,240/.18
X=18,000 IS THE AMOUNT INVESTED @ 12%
54,000-18,000=36,000 IS THE AMOUNT INVESTED @ 6%
PROOF:
.12*18,000=.06*36,000
2,160=2,160
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