SOLUTION: A total of $16,000 is invested in two college savings accounts paying 5% and 6% annual interest. The combines annual interest is $860. how much of the $16000 is invested in eac

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Question 717259:
A total of $16,000 is invested in two college savings accounts paying 5% and 6% annual interest. The combines annual interest is $860. how much of the $16000 is invested in each account
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
.05x+.06(16,000-x)=860
.05x+960-.06x=860
-.01x=860-960
-.01x=-100
x=-100/-.01
x=$10,000 invested @ 5%
16,000-10,000=6,000 invested @ 6%.
Proof:
.05*10,000+.06*6,000=860
500+360=860
860=860