SOLUTION: How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal?

Question 843682: How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi,

Let x represent the amount at 10%

 .10x = .08(54000-x)

  .18x = (.08)54000

     x = (.08)54000/.18 = $24,000, amount at 10%.  30,000at 8%

 

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