SOLUTION: Petr has $5000 invested in two plans. One
plans pays 5% simple interest per year and the
other pays 8%. At the end of the year, Petr
receives a total of $340 in interest. How
Algebra ->
Linear-equations
-> SOLUTION: Petr has $5000 invested in two plans. One
plans pays 5% simple interest per year and the
other pays 8%. At the end of the year, Petr
receives a total of $340 in interest. How
Log On
Question 839687: Petr has $5000 invested in two plans. One
plans pays 5% simple interest per year and the
other pays 8%. At the end of the year, Petr
receives a total of $340 in interest. How
much did he invest in each plan? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Petr has $5000 invested in two plans. One
plans pays 5% simple interest per year and the
other pays 8%. At the end of the year, Petr
receives a total of $340 in interest. How
much did he invest in each plan?
--------
Interest + interest = interest
0.05*x + 0.08(5000-x) = 340
-------
5x + 8*5000 - 8x = 34000
----------
-3x = -6000
x = $2000 (amt. invested at 5%)
5000-x = $3000 (amt. invested at 8%)
---------------------
Cheers,
Stan H.
----------------
(