SOLUTION: A total of $60000 is invested in two accounts, one that earns 5.5% simple interest, and one that earns 6.5% simple interest. If the total interest at the end of 1 year is $3750, fi

Algebra ->  Linear-equations -> SOLUTION: A total of $60000 is invested in two accounts, one that earns 5.5% simple interest, and one that earns 6.5% simple interest. If the total interest at the end of 1 year is $3750, fi      Log On


   

Question 1047959: A total of $60000 is invested in two accounts, one that earns 5.5% simple interest, and one that earns 6.5% simple interest. If the total interest at the end of 1 year is $3750, find the amount invested in each account.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
x amount at 6.5%
.065x + .055($60000 - x) = $3750
x = ($3750 - $3300)/.01
($60000 - x) the other amount at 5.5%