SOLUTION: you invest $6000 between two accounts paying 5% and 8% annual interest, respectively. if the total earned for the year was $420, how much was invested at each rate?

Question 976710: you invest $6000 between two accounts paying 5% and 8% annual interest, respectively. if the total earned for the year was $420, how much was invested at each rate?
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
you invest $6000 between two accounts paying 5% and 8% annual interest, respectively. if the total earned for the year was $420, how much was invested at each rate?
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let x=amt invested at 5% rate
let(6000- x)=amt invested at 8% rate
5%x+8%(6000-x)=420
.05x+480-.08x=420
.03x=60
x=2000
6000-x=4000
amt invested at 5% rate=$2000
amt invested at 8% rate=$4000
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