SOLUTION: Jackson has investments totaling K8, 000 in two accounts – one a savings account paying 6% interest, and the other a premium account paying 9%. If the annual interest from the

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Jackson has investments totaling K8, 000 in two accounts – one a savings account paying 6% interest, and the other a premium account paying 9%. If the annual interest from the       Log On


   

Question 1048227: Jackson has investments totaling K8, 000 in two accounts – one a savings account paying
6% interest, and the other a premium account paying 9%. If the annual interest from the
two investments was K600, how much did he have invested at each rate?
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
Let n be the amount invested at 9%. Then:
.09n+.06(8000-n)=600
.03n+480=600
.03n=120
n=K4000 invested at 9%, and K4000 invested at 6%. ☺☺☺☺