SOLUTION: Mr. Wilson invested money in two accounts. His total investment was $20,000. If one account pays 8% in interest and the other pays 5% in interest, how much does he have in each acc

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Question 1159127: Mr. Wilson invested money in two accounts. His total investment was $20,000. If one account pays 8% in interest and the other pays 5% in interest, how much does he have in each account if he earned a total of $1,180 in interest in 1 year?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
x at 8%
20000-x at 5%
.08x+.05(20000-x)=1180
.08x+1000-.05x=1180
.03x=180
x=$6000 at 8% or $480
20000-x=$14000 at 5% or $700