SOLUTION: If I invest 12,000 into 2 accounts. One account earns 7.5% simple interest. the other 6% simple interset. At the end, I earn $840.00. How much did I invest in each account?
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-> SOLUTION: If I invest 12,000 into 2 accounts. One account earns 7.5% simple interest. the other 6% simple interset. At the end, I earn $840.00. How much did I invest in each account?
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Question 96951: If I invest 12,000 into 2 accounts. One account earns 7.5% simple interest. the other 6% simple interset. At the end, I earn $840.00. How much did I invest in each account? Answer by coyote(32) (Show Source):
You can put this solution on YOUR website! The formula is I=prt
So 840 = .06x + .075(12000 - x)
Multiply both sides by 100 to remove decimals
84000 = 6x + 7.5(12000 - x)
84000 = 6x + 90000 - 7.5x
84000 = -1.5x + 90000
-6000 = 1.5x
4000 = x
So to find the second account, go back to 12000 - x = 8000
To check:
6% of 4000 = 240
7.5% of 8000 = 600
which equals original interest of 840
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