SOLUTION: Please help me solve this equation. 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 t
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-> SOLUTION: Please help me solve this equation. 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 t
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Question 789240: Please help me solve this equation. 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.
This is how the question is written in the textbook. Please help. Thanks. Michael Armani Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested at 8% = amount invested at 10%
----------------- = interest earned from 8% investment = interest earned from 10% investment
-----------------
The interest earned by the two accounts are equal, so
$30,000 should be invested at 8%
$24,000 should be invested at 10%
