Question 119798: Sam has $10,000 to invest. He will put the money into 2 accounts,one that earns 10% simple interest,and one that earns 12% simple interest. If he wants to have $1160.00 in interest at the end of the year,how much should he invest in each account?
I need the two equations only.
I do not know how to set the equations up.
I can take it from there.
thank you very much : )
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Sam has $10,000 to invest. He will put the money into 2 accounts,one that earns 10% simple interest,and one that earns 12% simple interest. If he wants to have $1160.00 in interest at the end of the year,how much should he invest in each account?
I need the two equations only.
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EQUATIONS only:
x+y = 10,000
0.10x + 0.12y = 1160
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Cheers,
Stan H.
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