SOLUTION: Blake has a total of $1600 to invest in 2 accounts. one account earns 5% simple intereest and the other earns 7% simple interest. how much should be invested in both accounts to ea
Algebra ->
Expressions-with-variables
-> SOLUTION: Blake has a total of $1600 to invest in 2 accounts. one account earns 5% simple intereest and the other earns 7% simple interest. how much should be invested in both accounts to ea
Log On
Question 208497: Blake has a total of $1600 to invest in 2 accounts. one account earns 5% simple intereest and the other earns 7% simple interest. how much should be invested in both accounts to earn exactly $90 at the end of 1 year?
? 5% account
? 7% account Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! .07x+.05(1,600-x)=90
.07x+80-.05x=90
.02x=90-80
.02x=10
x=10/.02
x=500 amount invested @ 7%
1,600-500=1,100 amount invested @ 5%
Proof:
.07*500+.05*1,100=90
35+55=90
90=90
(