SOLUTION: you invest $20,000 in two accounts paying 7% and 8% annual interest. how much should be invested at each rate if the total interest earned for the year is to be $1520? Begin by fil

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Question 353700: you invest $20,000 in two accounts paying 7% and 8% annual interest. how much should be invested at each rate if the total interest earned for the year is to be $1520? Begin by filling in the missing entry in the following table.
principal x rate = interest
7% interest x 0.07 0.07x
8% interest 20,000-x 0.09
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.08x+.07(20,000-x)=1,520
.08x+1,400-.07x=1,520
.-1x=1,520-1,400
.01x=120
x=120/.01
x=12,000 amount invested @ 9%
20,000-12,000=8,000 invested @ 8%.
Proof:
.08*12,000+.07*8,000=1,520
960+560=1,520
1,520=1,520