SOLUTION: A team of cancer research specialists received a grant of $300,000 to be used for cancer research. They deposited some of the money in a 10% simple interest account and the remain
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Question 43685This question is from textbook Beginning Algebra with Applications
: A team of cancer research specialists received a grant of $300,000 to be used for cancer research. They deposited some of the money in a 10% simple interest account and the remainder in an 8.5% annual simple interest account. How much was deposited in each account if the annual interest is $28,500?
This question is from textbook Beginning Algebra with Applications
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.10X+.085(300000-X)=28500 OR .10X+25500-.085X=28500 OR .015X=28500-25500 OR
.015X=3000 OR X=3000/.015 OR X=200000 INVESTED @ 10% & 100000 INVESTED @ 8.5%
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