SOLUTION: Susan inherited $12,000 and invested some of it in an account earning 5% simple interest and put the rest in an account earning 8% simple interest. If she earned a total of $810 in
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Susan inherited $12,000 and invested some of it in an account earning 5% simple interest and put the rest in an account earning 8% simple interest. If she earned a total of $810 in
Log On
Question 865364: Susan inherited $12,000 and invested some of it in an account earning 5% simple interest and put the rest in an account earning 8% simple interest. If she earned a total of $810 in interest after 1 year, how much did she invest in each account? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 5.00% per annum ------------- Amount invested =x
Part II 8.00% per annum ------------ Amount invested = y
12000
Interest----- 810.00
Part I 5.00% per annum ---x
Part II 8.00% per annum ---y
Total investment
x + 1 y= 12000 -------------1
Interest on both investments
5.00% x + 8.00% y= 810
Multiply by 100
5 x + 8 y= 81000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -60000.00
Add this to (2)
0 x 3 y= 21000
divide by 3
y = 7000
Part I 5.00% $ 5000
Part II 8.00% $ 7000
