SOLUTION: An investment adviser invested $14,000 in two accounts. One investment earned 8% annual simple interest, and the other investment earned 2.5% annual simple interest. The amount of

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Question 1127076: An investment adviser invested $14,000 in two accounts. One investment earned 8% annual simple interest, and the other investment earned 2.5% annual simple interest. The amount of interest earned for 1 year was $757. How much was invested in each account?
Answer by ikleyn(52770)   (Show Source): You can put this solution on YOUR website!
.
0.08x + 0.025(14000-x) = 757.


Solve for x, which is the amount invested at 8%.


x =  = (one click in my MS Excel) = 7400.


Answer.  7400 dollars were invested at 8%.  The rest,  14000-7400 = 6600 dollars were invested at 2.5%.


Check.  0.08*7400 + 0.025*6600 = 757 dollars.   ! Correct !

Solved.

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It is a standard and typical problem on investments.

If you need more details,  or if you want to see other similar problems solved by different methods,  look into the lesson
    - Using systems of equations to solve problems on investment
in this site.

You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
different methods of solution to the equations  (Substitution,  Elimination).

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic  "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.


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