SOLUTION: John invested $8000 for one year, part at 8% interest and the rest at 10%. If John earned $700 in interest, how much is in each account?

Question 529205: John invested $8000 for one year, part at 8% interest and the rest at 10%. If John earned $700 in interest, how much is in each account?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 8%
Let = amount invested @ 10%
given:
(1)
(2)
-----------------
(2)
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)

and, since
(1)
(1)
(1)
$5,000 is the amount invested @ 8%
$3,000 is the amount invested @ 10%
check answer:
(2)
(2)
(2)
(2)
OK
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