Asked by cee jay
12000 was invested in 2 accounts, one earning 12% simple interest and the other earning 8% simple interest. if the total interest at the end of 1yr was $1240, how much was invested in each account?
Answers
Answered by
John
x = amount at 12%
y = amount at 8%
x + y = 12000
.12x +.08y = 1240
multiply by 100 to clear decimals
12x + 8y = 124000
-8x -8y = -96000
4x = 28000
x = 7000
y = 5000
y = amount at 8%
x + y = 12000
.12x +.08y = 1240
multiply by 100 to clear decimals
12x + 8y = 124000
-8x -8y = -96000
4x = 28000
x = 7000
y = 5000
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.