SOLUTION: An account executive deposited $40,000 into 2 simple interest accounts. One earns 5% and the other earns 15%. How much is in each if interests are equal?

Question 916911: An account executive deposited $40,000 into 2 simple interest accounts. One earns 5% and the other earns 15%. How much is in each if interests are equal?
Found 2 solutions by josmiceli, stanbon:
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount in 5% account
= amount in 15% account
= interest earned @ 5%
= interest earned @ 15%
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and

$30,000 is in 5% account
$10,000 is in 15% account
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check:

OK

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
An account executive deposited $40,000 into 2 simple interest accounts. One earns 5% and the other earns 15%. How much is in each if interests are equal?
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Equation:
interest = interest
---
0.05x = 0.15(40000-x)
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5x = 15*40000 - 15x
20x = 15*40000
x = 15*2000
x = $30,000 (amt. invested at 5%)
----
40000-x = $10,000 (amt invested at 15%)
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Cheers,
Stan H.
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