SOLUTION: John invests a total of $8,750 among two accounts. Part goes into an account that earns 6% interest per year. The rest goes into an account that earns 8% interest per year. How muc
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Question 56268: John invests a total of $8,750 among two accounts. Part goes into an account that earns 6% interest per year. The rest goes into an account that earns 8% interest per year. How much does he put into each account if the simple interest earned for one year is the same in both accounts? Answer by checkley71(8403) (Show Source):
You can put this solution on YOUR website! X*.08=(8750-X).06
.08X=525-.06X
.14X=525
X=525/.14
X=3750 INVESTED @ 8%
8750-3750=5000 INVESTED @ 6%
PROOF
3750*.08=5000*.06
300=300
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