SOLUTION: Here's another word problem having to do with interest: Sharon Sledge invested 20,000, part at 5% and part at 7% simple interst for a period of one year. How much was invested in
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: Here's another word problem having to do with interest: Sharon Sledge invested 20,000, part at 5% and part at 7% simple interst for a period of one year. How much was invested in each account if the interest earned in the 7% account was $440 greater than the amount invested in the 5% account? This question is from textbook
You can put this solution on YOUR website! .05x+440=.07(20000-x) or .05x+440=1400-.07x or .12x=960 or x=960/.12 or x=8000
invested @ 5 % therefore 20000-8000=12000 invested @ 7%
proof .05*8000=400 and .07*12000=840 and 840-400=440 difference in the interest earned.
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