SOLUTION: Harry invested some money at 7% annual simple interest. He invested 200$ less then that at 5% annual simple interest. In one year the total interest from both accounts was 212$. Ho
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Question 819394: Harry invested some money at 7% annual simple interest. He invested 200$ less then that at 5% annual simple interest. In one year the total interest from both accounts was 212$. How much was invested at 5% Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Harry invested some money at 7% annual simple interest. He invested 200$ less then that at 5% annual simple interest. In one year the total interest from both accounts was 212$. How much was invested at 5%
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Equation::
int + int = int
0.07x + 0.05(x-200) = 212
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Multiply thru by 100 to get:
7x + 5x - 1000 = 21200
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12x = 20200
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x = $1683.33
x-200 = $1483.33 (amt. invested at 5%)
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Cheers,
Stan H.
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