SOLUTION: an investment of $12000 is deposited into 2 accounts one @5.5% and one @6.5% how much should be invested into each account so each account earns the same interest?
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-> SOLUTION: an investment of $12000 is deposited into 2 accounts one @5.5% and one @6.5% how much should be invested into each account so each account earns the same interest?
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Question 102848: an investment of $12000 is deposited into 2 accounts one @5.5% and one @6.5% how much should be invested into each account so each account earns the same interest? Answer by checkley75(3666) (Show Source):
You can put this solution on YOUR website! .065X=.055(12000-X)
.065X=660-.055X
.065X+.055X=660
.12X=660
X=660/.12
X=5500 INVESTED @ 6.5%
12000-5500=6500 INVESTED @ 5.5%
PROOF
.065*5500=.055*6500
3575=3575
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