SOLUTION: Sebastain would like both of his investment a total of $12000 to bring him the same annual interest income. one of his investment is at 5.5% annual interest rate and the other at
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Question 975444: Sebastain would like both of his investment a total of $12000 to bring him the same annual interest income. one of his investment is at 5.5% annual interest rate and the other at 7%. find the amount of money that sebastain should invest in each account. Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! Sebastain would like both of his investment a total of $12000 to bring him the same annual interest income. one of his investment is at 5.5% annual interest rate and the other at 7%. find the amount of money that sebastain should invest in each account.
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let x=amt invested at 5.5% interest
12000-x=amt invested at 7.0% interest
5.5%x=7%(12000-x)
.055x=840-.07x
.125x=840
x=6720
12000-x=5280
amt invested at 5.5% interest rate=$6720
amt invested at 7.0% interest rate=$5280
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