SOLUTION: Brian invested $8000, part in a 5% account and the rest in a 10% account. If his annual interest was $ 650. How much did he invest at each rate?
Question 553488: Brian invested $8000, part in a 5% account and the rest in a 10% account. If his annual interest was $ 650. How much did he invest at each rate? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 5%
Let = amount invested @ 10%
given:
(1)
(2)
---------------------
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
(1)
(1)
He invested $3,000 @ 5% and
$5,000 @ 10%
check answer:
(2)
(2)
(2)
(2)
OK
