SOLUTION: a teacher invested $11,000 in two accounts. part of the money was invested at 8% annual simple intrest and the remainder at 6% annual simple intrest. if the teacher received a tota
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Question 1113471: a teacher invested $11,000 in two accounts. part of the money was invested at 8% annual simple intrest and the remainder at 6% annual simple intrest. if the teacher received a total of $820 in intrest after one year, how much did the teacher invest in each account? Answer by solver91311(24713) (Show Source):
If is invested in two accounts, one at interest rate and the other at interest rate and the total interest earned is after 1 year at simple annual interest, and the amount invested in the first account is while the amount invested in the second account is , the following relationships hold:
Note that:
Hence
For your problem:
Solve for and then calculate
John
My calculator said it, I believe it, that settles it
