SOLUTION: I can't figure out what formula to use for this word problem. :
You invest $6000 in two accounts paying 6% and 9% annual interest, respectively. At the end of the year, the acco
Algebra ->
Equations
-> SOLUTION: I can't figure out what formula to use for this word problem. :
You invest $6000 in two accounts paying 6% and 9% annual interest, respectively. At the end of the year, the acco
Log On
Question 131056This question is from textbook Introductory Algebra for college students
: I can't figure out what formula to use for this word problem. :
You invest $6000 in two accounts paying 6% and 9% annual interest, respectively. At the end of the year, the accounts earn the same interest. How much was invested at each rate? This question is from textbook Introductory Algebra for college students
You can put this solution on YOUR website! .09X=.06(6000-X)
.09X=360-.06X
.09X+.06X=360
.15X=360
X=360/.15
X=$2,400 AMOUNT INVESTED @ 9%
6000-2400=$3,600 INVESTED @ 6%
PROOF:
.09*2400=.06*3600
216=216
(