Asked by Helen
How can $12,600 be split between two investments, one paying 6% annually and one paying 8% annually so that the interest from the two accounts equals $864
Answers
Answered by
Steve
If x is at 6%, then the rest (12600-x) is at 8%. So, add up the interest:
.06x + .08(12600-x) = 864.00
.06x + .08(12600-x) = 864.00
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