document.write( "Question 1094914: Mr. Wilson invested money in two accounts. His total investment was $20,000. If one account pays 6% interest and the other pays 8% interest, how much does he have in each account if he earned a total of $1,380 in interest in 1 year? \n" ); document.write( "

Algebra.Com's Answer #709527 by MathTherapy(10557) $\"\"$ $\"About$

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Mr. Wilson invested money in two accounts. His total investment was $20,000. If one account pays 6% interest and the other pays 8% interest, how much does he have in each account if he earned a total of $1,380 in interest in 1 year?
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Let the 6%-investment amount be S
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document.write( "Then the 8% investment amount = 20,000 - S
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document.write( "We then get: .06S + .08(20,000 - S) = 1,380
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document.write( ".06S + 1,600 - .08S = 1,380
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document.write( ".06S - .08S = 1,380 - 1,600
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document.write( "- .02S = - 220
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document.write( "S, or 6%-investment amount = 
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document.write( "Amount invested at 8%: 
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document.write( "That's all!! Nothing COMPLEX and/or CONFUSING!
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document.write( "P.S. I could've also used 2 variables: 1 for the 6% and another for the 8%. \n" );
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