SOLUTION: Chuy Carreon invested $8000 for 1 year, part at 3% and part at 5% simple interest. How much was invested in each account if the same amount of interest was received from each accou
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Question 725235: Chuy Carreon invested $8000 for 1 year, part at 3% and part at 5% simple interest. How much was invested in each account if the same amount of interest was received from each account? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! invested $8000 for 1 year, part at 3% and part at 5% simple interest.
How much was invested in each account if the same amount of interest was received from each account?
:
let x = amt invested at 5%
then
(8000-x) = amt invested at 3%
:
5% int = 3% int
.05x = .03(8000-x)
.05x = 240 - .03x
.05x + .03x = 240
.08x = 240
x = 240/.08
x = $3000 invested at 5%
I'll let you find the amt invested at 3%
:
Check this by finding the actual interest from each investment
