SOLUTION: Juanita has 28,000 to invest in two accounts that pay simple interest on an annual basis. One account pays 5% in simple interest and the other account pays 2%. How much would she h
Algebra.Com
Question 900059: Juanita has 28,000 to invest in two accounts that pay simple interest on an annual basis. One account pays 5% in simple interest and the other account pays 2%. How much would she have to invest in each account to earn a total interest of $830.00 after one year?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
x+y=28000,
0.05*x+0.02*y=830
x=28000-y
0.05*(28000-y)+0.02*y=830
1400-0.05y+0.02*y=830
-0.03*y=-570
y= 19000
x=28000-y
x=9000
check
0.05*9000+0.02*19000=830
450+380=830
830=830
ok
RELATED QUESTIONS
Juanita has $24,000 to invest in two accounts that pay simple interest on an... (answered by lwsshak3)
Juanita has 22000 to invest in two accounts that pay simple interest on an annual basis.... (answered by mananth)
An investment club wants to invest $17,000 in two simple interest accounts. One account... (answered by scianci)
An investment club wants to invest $17,000 in two simple interest accounts. One account... (answered by checkley75)
An investment club wants to invest $50,000 in two simple interest accounts. One account... (answered by scianci,ankor@dixie-net.com)
An investment club wants to invest $60,000 in two simple interest accounts. One account... (answered by checkley75)
An investor has a total of $10,000 to deposit in two simple interest accounts. On one... (answered by macston)
I am having a problem of putting the following into an linear equation. A company... (answered by htmentor)
I have tried so many times but can not figure this one out...
You have a total of $15... (answered by Alan3354,josmiceli)