SOLUTION: How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal ?
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Question 373548: How can $54,000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal ? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = the interest earned by both accounts
Let = portion of $54000 invested at 8%
Let = portion of $54000 invested at 10%
given:
-----------------
by substitution:
and
$30,000 was invested at 8%
and $24,000 was invested at 10%
