SOLUTION: how can 48000 be invested part out of 5 percent annual simple interest in the remainder at 7 percent annual simple interest so that the interest earned by the two accounts will be
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Question 949787: how can 48000 be invested part out of 5 percent annual simple interest in the remainder at 7 percent annual simple interest so that the interest earned by the two accounts will be equal Answer by macston(5194) (Show Source):
You can put this solution on YOUR website! x=amount at 5%: y=amount at 7%
x+y=48000 Subtract y from each side
x=48000-y
0.05x=0.07y Substitute for x
0.05(48000-y)=0.07y
2400-0.05y=0.07y Add 0.05y to each side.
2400=0.12y Divide each side by 0.12
20000=y ANSWER 1: 20000 should be invested at 7%.
x=48000-20000=28000 ANSWER 2: 28000 should be invested at 5%.
CHECK:
0.05(28000)=0.07(20000)
1400=1400
