<PRE><B>Question 86251</B>
An investment club wants to invest $50,000 in two simple interest accounts. One account earns 8.4% annual simple interest and the other account earns 11.9% annual simple interest. How much should be invested in each account so that both accounts earn the same annual interest? 
:
Let x = amt invested at 8.4$
Then
(50000 - x) = amt invested at 11.9%
:
Interest at 8.4% = interest 11.9%
.084x = .119(50000-x)
.084x = 5950 - .119x
.084x + .119x = 5950
.203x = 5950
x = 5950/.203
x = $29,310.34 invested at 8.4%
:
50000 - 29310.34 = $20,689.66 invested at 11.9%
:
:
Check our solutions to see if interests are equal:
.084 * 29310.34 = 2462.07
.119 * 20689.66 = 2462.07</PRE>