SOLUTION: Carlo invested a total of $50,000 in two banks for a year. One investment has an interest rate of 10% per year and the other at 8%. How much should be invested at 8% so that the in

Question 889581: Carlo invested a total of $50,000 in two banks for a year. One investment has an interest rate of 10% per year and the other at 8%. How much should be invested at 8% so that the interest from this investment is twice as big?

Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
let investment at 8% be x
investment at 10 % = 50000-x

Interest from 8% = 8%x
Interest from 10% = 10%(50000-x)
8%x=2*10%(50000-x)
8x=1000000-20x
28x=500000
35,714.30 investment at8%
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