SOLUTION: If I invested part of $24,000 advance at 2% annual simple interest and the rest at 4% annual simple interest. If my total yearly interest form both accounts was $920, find the amo
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Question 901180: If I invested part of $24,000 advance at 2% annual simple interest and the rest at 4% annual simple interest. If my total yearly interest form both accounts was $920, find the amount invested at each rate.
@ 2% =
@ 4% = Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! x+y=24000,
0.02*x+0.04*y=920
x=24000-y
0.02*(24000-y)+0.04*y=920
480-0.02y+0.04*y=920
0.02*y=440
y=22000 at 4%
x=24000-y
x=2000 at 2%
check
0.02*2000+0.04*22000=920
40+880=920
920=920
ok
