SOLUTION: Please help me solve this word problem: Kathy invested $8000 for one year. Part at 3% and part at 5% simple interest. How much was invested in each account if the same amount of in
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Please help me solve this word problem: Kathy invested $8000 for one year. Part at 3% and part at 5% simple interest. How much was invested in each account if the same amount of in
Log On
Question 1047912: Please help me solve this word problem: Kathy invested $8000 for one year. Part at 3% and part at 5% simple interest. How much was invested in each account if the same amount of interest was received from each account?
Thank you! Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Please help me solve this word problem: Kathy invested $8000 for one year. Part at 3% and part at 5% simple interest. How much was invested in each account if the same amount of interest was received from each account?
------
t + f = 8000 dollars
0.03t - 0.05f = 0
------------------------
Modify for elimination:
3t + 3f = 3*8000
3t - 5f = 0
=========
Subtract and solve for "f":
8f = 3*8000
f = $3000 (amt. invested at 5%)
-----
Solve for "t"
t = 8000-f = $5000 (amt. invested at 3%)
----------------
Cheers,
Stan H.
------------
(