SOLUTION: how can 42,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned be the two accounts is equal at the end o

Algebra ->  Equations -> SOLUTION: how can 42,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned be the two accounts is equal at the end o      Log On


   

Question 225684: how can 42,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned be the two accounts is equal at the end of the year?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.10X=.04(42,000-X)
.10X=1,680-.04X
.14X=1,680
X=1,680/.14
X=12,000 INVESTED @ 10%.
42,000-12,000=30,000 INVESTED @ 4%.
.10*12,000=.04*30,000
1,200=1.200