SOLUTION: You invest $7,200 in two accounts paying 8% and 10% annual interest, repectively. At the end of the year, the accounts earn the same interest. How much was invested at each investm
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Question 242393: You invest $7,200 in two accounts paying 8% and 10% annual interest, repectively. At the end of the year, the accounts earn the same interest. How much was invested at each investment? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! You invest $7,200 in two accounts paying 8% and 10% annual interest, respectively.
At the end of the year, the accounts earn the same interest. How much was invested at each investment?
:
Let x = amt invested at 8%
The total investment given as 7200, therefore
(7200-x) = amt invested at 10%
:
.08x = interest paid on the 8% account
.10(7200-x) = interest paid on the 10% account
:
It said the interest from the two accounts are equal, therefore:
.08x = .10(7200-x)
.08x = 720 - .10x
.08x + .10x = 720
.18x = 720
x =
x = $4000 invested at 8%
:
I'll let you find the amt invested at 10%
:
Then check the interest amts on both, and ensure they are equal
