SOLUTION: How can $70,000 be invested, part at 4% annual simple interset and the remainder at 10% annual simple interest so that the interest earned by two accounts is equal at the end of t

Question 479263: How can $70,000 be invested, part at 4% annual simple interset and the remainder at 10% annual simple interest so that the interest earned by two accounts is equal at the end of the year?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How can $70,000 be invested, part at 4% annual simple interset and the remainder at 10% annual simple interest so that the interest earned by two accounts is equal at the end of the year?
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Solve:
0.04x = 0.10(70,000-x)
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4x = 700000 - 10x
14x = 700000
x = $50,000 (amt. invested at 4%)
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70000-x = $20,000 (amt. invested at 10%)
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Cheers,
Stan H.
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