SOLUTION: John earned a total of $988 in simple interest from two separate accounts. In an account earning 6% interest, John invested $1,300 more than five times the amount he invested in an
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-> SOLUTION: John earned a total of $988 in simple interest from two separate accounts. In an account earning 6% interest, John invested $1,300 more than five times the amount he invested in an
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Question 1123238: John earned a total of $988 in simple interest from two separate accounts. In an account earning 6% interest, John invested $1,300 more than five times the amount he invested in an account earning 5%. How much did he invest in each account? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x at 5% or .05x interest
(5x+1300) @ 6% or .30x+78
those two equal 988
.35x+78=988
.35x=910
x=$2600 @5% or $130
5x+1300=$14,300 @6% or $858
They add to $988
The amounts are $2600 and $14300. ANSWER
