SOLUTION: a person invested 50000 into two accounts that pays 8 percent and 6 percent interest anually. find out the amount acount if the total interest earned after one year is 3600.
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Question 459256: a person invested 50000 into two accounts that pays 8 percent and 6 percent interest anually. find out the amount acount if the total interest earned after one year is 3600. Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 8%
Let = amount invested @ 6%
given:
(1)
(1)
and
(2)
Multiply both sides of (2) by
and subtract (2) from (1)
(1)
(2)
and, since
(2)
$30,000 = amount invested @ 8%
$20,000 = amount invested @ 6%
check answer:
(1)
(1)
(1)
(1)
OK
