SOLUTION: A dentist invested a portion of $14,000 in a 8% annual simple interest account and the remainder in a 6.5% annual simple interest government bond. The two investments earn $1045 in
Algebra ->
Finance
-> SOLUTION: A dentist invested a portion of $14,000 in a 8% annual simple interest account and the remainder in a 6.5% annual simple interest government bond. The two investments earn $1045 in
Log On
Question 934825: A dentist invested a portion of $14,000 in a 8% annual simple interest account and the remainder in a 6.5% annual simple interest government bond. The two investments earn $1045 in interest annually. How much was invested in each account? in the 8%_____ and in the 6.5%______
HELP ME!!! =o)))) PLEASE Answer by jim_thompson5910(35256) (Show Source):
You can put this solution on YOUR website! x = amount (in dollars) invested in the 8% account
y = amount (in dollars) invested in the 6.5% account
$14,000 was invested in only two accounts, which means x and y must add to 14,000
x+y = 14000
y = 14000-x
I solved for y so I could plug it into the next equation below
in the 8% _____
and in the 6.5%______
------------------------------------------------------------------------------------------------------------------------
If you need more one-on-one help, email me at jim_thompson5910@hotmail.com. You can ask me a few more questions for free, but afterwards, I would charge you ($2 a problem to have steps shown or $1 a problem for answer only).
Alternatively, please consider visiting my website: http://www.freewebs.com/jimthompson5910/home.html and making a donation. Any amount is greatly appreciated as it helps me a lot. This donation is to support free tutoring. Thank you.
Jim
------------------------------------------------------------------------------------------------------------------------
(