SOLUTION: How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal at the end

SOLUTION: How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal at the end

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Question 225693: How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal at the end of the year
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.10X=.04(10,000-X)
.10X=400-.04X
.14X=400
X=400/.14
X=2,857 INVESTED @ 10%.
10,000-2,857=7,143 INVESTED @ 4%.
.10*2,857=.04*7,143
285.7=285.7

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